Mistras Group (NYSE:MG) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Mistras Group (NYSE:MG) from a buy rating to a hold rating in a report released on Saturday, December 30th.

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. “

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

Shares of Mistras Group (MG) opened at $22.69 on Friday. The firm has a market capitalization of $641.07, a P/E ratio of 40.46 and a beta of 1.19. Mistras Group has a fifty-two week low of $17.00 and a fifty-two week high of $24.32. The company has a quick ratio of 2.08, a current ratio of 2.21 and a debt-to-equity ratio of 0.41.

Mistras Group (NYSE:MG) last posted its quarterly earnings data on Monday, November 6th. The technology company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The firm had revenue of $179.57 million during the quarter, compared to analyst estimates of $172.28 million. Mistras Group had a net margin of 0.68% and a return on equity of 6.16%. sell-side analysts predict 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 company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $22.80, for a total transaction of $91,200.00. Following the completion of the sale, the executive vice president now owns 38,761 shares in the company, valued at $883,750.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 44.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its position in Mistras Group by 964.9% in the second quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after acquiring an additional 4,284 shares in the last quarter. Victory Capital Management Inc. raised its position in Mistras Group by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,829 shares of the technology company’s stock worth $128,000 after acquiring an additional 874 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Mistras Group in the second quarter worth $199,000. California Public Employees Retirement System purchased a new position in Mistras Group in the second quarter worth $204,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Mistras Group in the third quarter worth $251,000. Hedge funds and other institutional investors own 61.94% of the company’s stock.

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