Mistras Group (NYSE:MG) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Mistras Group (NYSE:MG) from a hold rating to a buy rating in a research note issued to investors on Wednesday, January 3rd. They currently have $26.00 price objective on the technology company’s stock.
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 several other research reports. Goldman Sachs Group downgraded Mistras Group from a neutral rating to a sell rating and decreased their target price for the company from $45.00 to $41.00 in a research report on Monday, October 16th. Robert W. Baird cut Mistras Group from an outperform rating to a neutral rating and boosted their price target for the company from $21.00 to $22.00 in a research note on Monday, October 2nd. Canaccord Genuity reiterated a hold rating and issued a $22.00 price target on shares of Mistras Group in a research note on Friday, December 22nd. Finally, KeyCorp reiterated a hold rating on shares of Mistras Group in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Mistras Group has a consensus rating of Hold and an average price target of $33.38.
Mistras Group (NYSE:MG) last announced its quarterly earnings results on Monday, November 6th. The technology company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Mistras Group had a return on equity of 6.16% and a net margin of 0.68%. The business had revenue of $179.57 million for the quarter, compared to analyst estimates of $172.28 million. equities analysts forecast that Mistras Group will post 0.48 EPS for the current fiscal year.
In other news, EVP Michael C. Keefe sold 4,000 shares of the stock in a transaction on Friday, December 1st. The stock was 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 directly owns 38,761 shares in the company, valued at approximately $883,750.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Broad Run Investment Management LLC increased its holdings in Mistras Group by 1.7% in the second quarter. Broad Run Investment Management LLC now owns 1,577,235 shares of the technology company’s stock valued at $34,652,000 after purchasing an additional 26,989 shares during the period. Vanguard Group Inc. grew its holdings in Mistras Group by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,386,429 shares of the technology company’s stock worth $30,460,000 after acquiring an additional 34,319 shares during the period. Dimensional Fund Advisors LP grew its holdings in Mistras Group by 5.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,168,161 shares of the technology company’s stock worth $23,949,000 after acquiring an additional 57,126 shares during the period. Wedge Capital Management L L P NC grew its holdings in Mistras Group by 10.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 871,988 shares of the technology company’s stock worth $17,876,000 after acquiring an additional 83,012 shares during the period. Finally, Engine Capital Management LLC grew its holdings in Mistras Group by 22.6% during the 3rd quarter. Engine Capital Management LLC now owns 381,008 shares of the technology company’s stock worth $7,811,000 after acquiring an additional 70,218 shares during the period. Institutional investors and hedge funds own 61.98% of the company’s stock.
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About Mistras Group
Mistras Group, Inc offers asset protection solutions and is a provider of technology-enabled asset protection solutions used to evaluate the structural integrity and reliability of critical energy, industrial and public infrastructure. The Company’s segments are Services segment, which provides asset protection solutions in North America with concentration on the United States along with a Canadian services business, consisting of non-destructive testing, and inspection and engineering services that are used to evaluate structural integrity and reliability of critical energy, industrial and public infrastructure; International segment, which offers services, products and systems similar to those of its Services and Products and Systems segments to markets in Europe, the Middle East, Africa, Asia and South America, and Products and Systems segment, which designs, manufactures, sells, installs and services asset protection products and systems, including equipment and instrumentation.
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