Mistras Group (MG) Lowered to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Mistras Group (NYSE:MG) from a hold rating to a sell rating in a research note published on Friday morning.

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. “

A number of other research analysts have also recently weighed in on MG. Canaccord Genuity began coverage on shares of Mistras Group in a research note on Wednesday. They set a hold rating and a $20.00 price objective for the company. ValuEngine raised shares of Mistras Group from a hold rating to a buy rating in a research note on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $22.33.

Shares of MG traded down $0.64 during mid-day trading on Friday, reaching $17.31. 67,702 shares of the company’s stock were exchanged, compared to its average volume of 66,311. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.09 and a quick ratio of 2.01. Mistras Group has a 52-week low of $16.46 and a 52-week high of $23.83. The stock has a market cap of $492.04 million, a price-to-earnings ratio of 40.26, a price-to-earnings-growth ratio of 0.72 and a beta of 1.31.

Mistras Group (NYSE:MG) last issued its quarterly earnings data on Monday, November 5th. The technology company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.11). Mistras Group had a return on equity of 6.42% and a net margin of 1.17%. The business had revenue of $182.17 million for the quarter, compared to analysts’ expectations of $181.50 million. On average, equities analysts expect that Mistras Group will post 0.73 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Mistras Group by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,298,205 shares of the technology company’s stock worth $24,510,000 after acquiring an additional 53,414 shares during the period. BlackRock Inc. grew its stake in Mistras Group by 7.3% in the 3rd quarter. BlackRock Inc. now owns 1,216,696 shares of the technology company’s stock worth $26,364,000 after acquiring an additional 82,663 shares during the period. Bernzott Capital Advisors grew its stake in Mistras Group by 16.4% in the 2nd quarter. Bernzott Capital Advisors now owns 984,906 shares of the technology company’s stock worth $18,595,000 after acquiring an additional 139,031 shares during the period. Rutabaga Capital Management LLC MA grew its stake in Mistras Group by 10.0% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 921,404 shares of the technology company’s stock worth $17,396,000 after acquiring an additional 84,024 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in Mistras Group by 0.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 907,995 shares of the technology company’s stock worth $19,676,000 after acquiring an additional 3,549 shares during the period. 59.06% of the stock is owned by hedge funds and other institutional investors.

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 engineering services; and designs, manufactures, sells, installs, and services acoustic emission (AE) sensors, instruments, and turn-key systems used for monitoring and testing materials, pressure components, processes, and structures.

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