Zacks Investment Research lowered shares of Mistras Group Inc. (NYSE:MG) from a hold rating to a strong sell rating in a report issued on Wednesday morning.
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. “
MG has been the topic of a number of other research reports. Robert W. Baird raised Mistras Group from a neutral rating to an outperform rating and boosted their target price for the company from $27.00 to $28.00 in a research report on Friday, August 12th. TD Securities dropped their price target on shares of Mistras Group from $51.00 to $46.00 and set a buy rating for the company in a research note on Monday, July 11th. Finally, CIBC boosted their price target on shares of Mistras Group from $45.00 to $47.00 and gave the stock a sector perform rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $41.75.
Mistras Group (NYSE:MG) opened at 20.04 on Wednesday. Mistras Group has a 52 week low of $18.02 and a 52 week high of $26.47. The company has a 50-day moving average price of $23.41 and a 200 day moving average price of $24.32. The company has a market cap of $580.66 million, a PE ratio of 24.74 and a beta of 1.20.
Mistras Group (NYSE:MG) last announced its earnings results on Thursday, October 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $168.40 million for the quarter. Mistras Group had a return on equity of 10.22% and a net margin of 3.44%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. On average, equities research analysts forecast that Mistras Group will post $5.23 EPS for the current fiscal year.
In related news, insider Dennis Bertolotti sold 21,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $24.97, for a total transaction of $524,370.00. Following the completion of the transaction, the insider now owns 101,062 shares in the company, valued at $2,523,518.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 45.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. American International Group Inc. increased its position in shares of Mistras Group by 0.6% in the second quarter. American International Group Inc. now owns 9,875 shares of the company’s stock worth $236,000 after buying an additional 61 shares during the last quarter. BLB&B Advisors LLC increased its position in Mistras Group by 1.4% in the second quarter. BLB&B Advisors LLC now owns 15,908 shares of the company’s stock valued at $380,000 after buying an additional 218 shares in the last quarter. A.R.T. Advisors LLC increased its position in Mistras Group by 3.5% in the second quarter. A.R.T. Advisors LLC now owns 8,769 shares of the company’s stock valued at $209,000 after buying an additional 300 shares in the last quarter. BlackRock Advisors LLC increased its position in Mistras Group by 4.2% in the second quarter. BlackRock Advisors LLC now owns 8,381 shares of the company’s stock valued at $200,000 after buying an additional 335 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in Mistras Group by 3.1% in the second quarter. Nationwide Fund Advisors now owns 13,949 shares of the company’s stock valued at $333,000 after buying an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 56.35% of the company’s stock.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.