Mistras Group (NYSE:MG) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Mistras Group (NYSE:MG) from a hold rating to a sell rating in a research note released on Tuesday, 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. “

MG has been the subject of a number of other reports. Maxim Group assumed coverage on Mistras Group in a research note on Thursday, October 31st. They set a buy rating and a $21.00 price target for the company. ValuEngine lowered Mistras Group from a buy rating to a hold rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $27.13.

NYSE MG traded down $0.29 during trading on Tuesday, hitting $13.33. 57,775 shares of the stock traded hands, compared to its average volume of 109,182. The company has a market capitalization of $401.92 million, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.25. Mistras Group has a 12-month low of $12.19 and a 12-month high of $17.57. The firm has a 50-day simple moving average of $14.72 and a 200-day simple moving average of $14.66. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 0.98.

Mistras Group (NYSE:MG) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.10). The company had revenue of $192.19 million during the quarter, compared to the consensus estimate of $195.10 million. Mistras Group had a net margin of 0.56% and a return on equity of 3.76%. As a group, research analysts predict that Mistras Group will post 0.35 EPS for the current fiscal year.

In other Mistras Group news, Director Manuel N. Stamatakis purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $14.60 per share, with a total value of $73,000.00. Following the purchase, the director now owns 122,718 shares of the company’s stock, valued at $1,791,682.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California Public Employees Retirement System raised its position in Mistras Group by 29.1% during the 3rd quarter. California Public Employees Retirement System now owns 15,323 shares of the technology company’s stock valued at $251,000 after purchasing an additional 3,457 shares in the last quarter. Rhumbline Advisers raised its position in Mistras Group by 7.4% during the 3rd quarter. Rhumbline Advisers now owns 27,426 shares of the technology company’s stock valued at $450,000 after purchasing an additional 1,889 shares in the last quarter. Bailard Inc. bought a new stake in Mistras Group during the 3rd quarter valued at $315,000. Envestnet Asset Management Inc. raised its position in 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 in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Mistras Group during the 3rd quarter valued at $279,000. 58.48% of the stock is owned by institutional investors and hedge funds.

Mistras Group Company Profile

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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