Mistras Group (MG) Rating Lowered to Hold at Zacks Investment Research

Mistras Group (NYSE:MG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

A number of other research firms have also recently weighed in on MG. KeyCorp reissued a “hold” rating on shares of Mistras Group in a research note on Friday, October 6th. Canaccord Genuity upped their target price on shares of Mistras Group from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, November 7th. Robert W. Baird cut shares of Mistras Group from an “outperform” rating to a “neutral” rating and upped their target price for the company from $21.00 to $22.00 in a research note on Monday, October 2nd. Finally, Goldman Sachs Group cut shares of Mistras Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $45.00 to $41.00 in a research note on Monday, October 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $34.86.

Mistras Group (NYSE MG) opened at $22.96 on Friday. Mistras Group has a twelve month low of $17.00 and a twelve month high of $24.87. The company has a current ratio of 2.21, a quick ratio of 2.08 and a debt-to-equity ratio of 0.41. The stock has a market cap of $649.55, a PE ratio of -1,148.00 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Mistras Group had a return on equity of 6.16% and a net margin of 0.68%. The company had revenue of $179.57 million for the quarter, compared to the consensus estimate of $172.28 million. equities research analysts forecast that Mistras Group will post 0.46 earnings per share for the current year.

In related news, EVP Michael C. Keefe sold 4,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $22.80, for a total value of $91,200.00. Following the sale, the executive vice president now owns 38,761 shares of the company’s stock, valued at $883,750.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 44.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of MG. Wedge Capital Management L L P NC grew its stake in Mistras Group by 10.5% during the third quarter. Wedge Capital Management L L P NC now owns 871,988 shares of the technology company’s stock worth $17,876,000 after buying an additional 83,012 shares during the last quarter. Engine Capital Management LLC grew its stake in Mistras Group by 22.6% during the third quarter. Engine Capital Management LLC now owns 381,008 shares of the technology company’s stock worth $7,811,000 after buying an additional 70,218 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Mistras Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,111,035 shares of the technology company’s stock worth $24,409,000 after buying an additional 69,211 shares during the last quarter. Citadel Advisors LLC bought a new stake in Mistras Group during the third quarter worth about $870,000. Finally, Vanguard Group Inc. grew its stake in Mistras Group by 2.5% during the second quarter. Vanguard Group Inc. now owns 1,386,429 shares of the technology company’s stock worth $30,460,000 after buying an additional 34,319 shares during the last quarter. 61.94% of the stock is currently owned by hedge funds and other institutional investors.

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