Mistras Group (MG) Upgraded to “Buy” at Zacks Investment Research

Mistras Group (NYSE:MG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $26.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.08% from the stock’s previous close.

According to Zacks, “Mistras Group, Inc. is a global provider of technology-enabled, non-destructive testing (NDT) solutions used to evaluate the structural integrity of critical energy, industrial and public infrastructure. The Company delivers a portfolio of solutions, ranging from routine NDT inspections to plant-wide asset integrity assessment and management solutions. The Company serves a global customer base, including companies in the oil and gas, fossil and nuclear power generation and transmission, public infrastructure, chemicals, aerospace and defense, transportation, primary metals and metalworking, pharmaceuticals and food processing industries. “

Other analysts have also recently issued reports about the stock. Goldman Sachs Group cut shares of Mistras Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $45.00 to $41.00 in a report on Monday, October 16th. Robert W. Baird cut shares of Mistras Group from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $21.00 to $22.00 in a report on Monday, October 2nd. Canaccord Genuity restated a “hold” rating and set a $22.00 target price on shares of Mistras Group in a report on Friday, December 22nd. Finally, KeyCorp restated a “hold” rating on shares of Mistras Group in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Mistras Group presently has a consensus rating of “Hold” and a consensus target price of $34.86.

Mistras Group (NYSE MG) traded up $0.15 during midday trading on Wednesday, hitting $23.62. 62,500 shares of the company were exchanged, compared to its average volume of 79,200. Mistras Group has a fifty-two week low of $17.00 and a fifty-two week high of $26.46. The company has a quick ratio of 2.08, a current ratio of 2.21 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $663.98, a price-to-earnings ratio of 168.73 and a beta of 1.19.

Mistras Group (NYSE:MG) last posted its quarterly earnings data on Monday, November 6th. The technology company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). Mistras Group had a net margin of 0.68% and a return on equity of 6.16%. The company had revenue of $179.57 million for the quarter, compared to analyst estimates of $172.28 million. analysts forecast that Mistras Group will post 0.46 EPS for the current year.

In related news, EVP Michael C. Keefe sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $22.80, for a total value of $91,200.00. Following the completion of the transaction, the executive vice president now owns 38,761 shares of the company’s stock, valued at approximately $883,750.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 44.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MG. Acrospire Investment Management LLC lifted its position in Mistras Group by 34.5% in the 3rd quarter. Acrospire Investment Management LLC now owns 4,677 shares of the technology company’s stock worth $110,000 after buying an additional 1,200 shares in the last quarter. Citigroup Inc. lifted its position in Mistras Group by 964.9% in the 2nd quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after buying an additional 4,284 shares in the last quarter. Victory Capital Management Inc. lifted its position in Mistras Group by 66.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock worth $106,000 after buying an additional 1,981 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Mistras Group in the 3rd quarter worth approximately $126,000. Finally, Engine Capital Management LLC purchased a new stake in Mistras Group in the 4th quarter worth approximately $226,000,000. 61.94% of the stock is owned by hedge funds and other institutional investors.

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About Mistras Group

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