Mistras Group (NYSE:MG) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Mistras Group Inc (NYSE:MG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.83 and traded as high as $18.06. Mistras Group shares last traded at $17.72, with a volume of 159,249 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MG. Weiss Ratings restated a “hold (c)” rating on shares of Mistras Group in a report on Tuesday, April 21st. Zacks Research downgraded shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Mistras Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, Roth Mkm started coverage on shares of Mistras Group in a research note on Thursday, April 30th. They issued a “buy” rating and a $22.00 target price for the company. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Mistras Group currently has an average rating of “Hold” and a consensus price target of $19.00.

Mistras Group Price Performance

The stock has a market cap of $563.85 million, a PE ratio of 25.31, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.81 and a quick ratio of 1.67. The firm’s 50 day moving average price is $17.11 and its two-hundred day moving average price is $14.83.

Mistras Group (NYSE:MG) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.08 earnings per share for the quarter. The firm had revenue of $169.03 million during the quarter, compared to the consensus estimate of $164.25 million. Mistras Group had a net margin of 3.06% and a return on equity of 13.60%. On average, research analysts expect that Mistras Group Inc will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Mistras Group

Several large investors have recently modified their holdings of the business. MetLife Investment Management LLC increased its stake in shares of Mistras Group by 17.8% in the fourth quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company’s stock worth $89,000 after purchasing an additional 1,065 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Mistras Group by 22.5% during the third quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company’s stock valued at $73,000 after acquiring an additional 1,360 shares in the last quarter. First Trust Advisors LP grew its stake in Mistras Group by 2.5% during the fourth quarter. First Trust Advisors LP now owns 56,879 shares of the technology company’s stock valued at $720,000 after acquiring an additional 1,396 shares in the last quarter. Raymond James Financial Inc. grew its stake in Mistras Group by 18.2% during the second quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company’s stock valued at $114,000 after acquiring an additional 2,183 shares in the last quarter. Finally, Torren Management LLC purchased a new position in Mistras Group during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.

Mistras Group Company Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.