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 research note released on Saturday, Zacks.com reports.

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 equities analysts have also recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Mistras Group in a research note on Thursday, June 27th. They set a neutral rating and a $55.00 target price on the stock. TheStreet upgraded shares of Mistras Group from a d+ rating to a c- rating in a research note on Wednesday, June 26th. Finally, ValuEngine upgraded shares of Mistras Group from a hold rating to a buy rating in a research note on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Mistras Group currently has an average rating of Hold and a consensus price target of $29.17.

MG opened at $14.69 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.60 and a current ratio of 1.72. The stock has a market capitalization of $426.12 million, a P/E ratio of 26.71, a P/E/G ratio of 1.35 and a beta of 1.22. The company’s 50-day simple moving average is $15.06 and its two-hundred day simple moving average is $14.54. Mistras Group has a 52-week low of $12.19 and a 52-week high of $20.51.

Mistras Group (NYSE:MG) last posted its earnings results on Monday, August 5th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $200.62 million for the quarter, compared to analysts’ expectations of $192.70 million. Mistras Group had a net margin of 0.01% and a return on equity of 4.13%. Research analysts forecast that Mistras Group will post 0.65 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bailard Inc. purchased a new stake in shares of Mistras Group during the 3rd quarter valued at about $315,000. Envestnet Asset Management Inc. increased its position in shares of Mistras Group by 27.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 27,009 shares of the technology company’s stock valued at $443,000 after purchasing an additional 5,782 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Mistras Group during the 3rd quarter valued at about $279,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Mistras Group during the 2nd quarter valued at about $857,000. Finally, Royal Bank of Canada increased its position in shares of Mistras Group by 23.4% during the 2nd quarter. Royal Bank of Canada now owns 667,724 shares of the technology company’s stock valued at $9,596,000 after purchasing an additional 126,498 shares during the last quarter. 58.50% of the stock is owned by hedge funds and other institutional investors.

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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