Zacks Investment Research upgraded shares of Mistras Group (NYSE:MG) from a hold rating to a buy rating in a research note released on Friday morning, Zacks.com reports. The firm currently has $16.00 target price 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. “
Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Mistras Group from a hold rating to a buy rating in a report on Monday, September 16th. Credit Suisse Group began coverage on shares of Mistras Group in a report on Thursday, June 27th. They issued a neutral rating and a $55.00 target price on the stock. Finally, TheStreet upgraded shares of Mistras Group from a d+ rating to a c- rating in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $29.17.
Mistras Group (NYSE:MG) last posted its quarterly earnings results on Monday, August 5th. The technology company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Mistras Group had a net margin of 0.01% and a return on equity of 4.13%. The firm had revenue of $200.62 million for the quarter, compared to analysts’ expectations of $192.70 million. As a group, sell-side analysts anticipate that Mistras Group will post 0.65 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of MG. SG Americas Securities LLC purchased a new position in shares of Mistras Group during the 2nd quarter worth $103,000. CHICAGO TRUST Co NA purchased a new position in shares of Mistras Group during the 2nd quarter worth $145,000. Prudential Financial Inc. boosted its stake in shares of Mistras Group by 9.0% during the 2nd quarter. Prudential Financial Inc. now owns 10,919 shares of the technology company’s stock worth $157,000 after acquiring an additional 900 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Mistras Group during the 3rd quarter worth $279,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Mistras Group by 10.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,227 shares of the technology company’s stock worth $305,000 after acquiring an additional 1,965 shares during the last quarter. Institutional investors own 58.50% of the company’s stock.
About Mistras Group
Mistras Group, Inc provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers traditional non-destructive testing, and inspection and testing program services; and engineering consulting services.
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