Zacks Investment Research Upgrades Mistras Group (MG) to “Buy”

Zacks Investment Research upgraded shares of Mistras Group (NYSE:MG) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $26.00 price target 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 a number of other reports. Canaccord Genuity restated a hold rating and issued a $22.00 price target on shares of Mistras Group in a research note on Friday, December 22nd. Goldman Sachs Group downgraded shares of Mistras Group from a neutral rating to a sell rating and reduced their price target for the company from $45.00 to $41.00 in a research note on Monday, October 16th. KeyCorp restated a hold rating on shares of Mistras Group in a research note on Friday, October 6th. Finally, Robert W. Baird downgraded shares of Mistras Group from an outperform rating to a neutral rating and raised their price target for the company from $21.00 to $22.00 in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Mistras Group presently has a consensus rating of Hold and an average price target of $34.86.

Mistras Group (NYSE:MG) traded up $0.03 on Tuesday, hitting $22.69. 46,819 shares of the stock were exchanged, compared to its average volume of 49,944. Mistras Group has a one year low of $17.00 and a one year high of $24.32. 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 firm has a market cap of $641.07, a P/E ratio of 40.46 and a beta of 1.19.

Mistras Group (NYSE:MG) last posted 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 net margin of 0.68% and a return on equity of 6.16%. The company had revenue of $179.57 million during the quarter, compared to analyst estimates of $172.28 million. equities analysts predict that Mistras Group will post 0.48 earnings per share for the current fiscal year.

In related news, EVP Michael C. Keefe sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were 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 owns 38,761 shares in the company, valued at approximately $883,750.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 44.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its holdings in Mistras Group by 964.9% during the 2nd quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after purchasing an additional 4,284 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Mistras Group by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,829 shares of the technology company’s stock worth $128,000 after purchasing an additional 874 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Mistras Group during the 2nd quarter worth approximately $199,000. California Public Employees Retirement System bought a new position in Mistras Group during the 2nd quarter worth approximately $204,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Mistras Group during the 3rd quarter worth approximately $251,000. Institutional investors and hedge funds own 61.94% of the company’s stock.

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