Mistras Group (NYSE:MG) Downgraded 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 report 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 topic of a number of other reports. ValuEngine lowered shares of Mistras Group from a buy rating to a hold rating in a research report on Tuesday, November 5th. Maxim Group began coverage on shares of Mistras Group in a research report on Thursday, October 31st. They set a buy rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $27.13.

Mistras Group stock traded down $0.29 during midday trading on Tuesday, reaching $13.33. The stock had a trading volume of 57,775 shares, compared to its average volume of 109,182. 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 has a 52-week low of $12.19 and a 52-week high of $17.57. The firm has a market cap of $401.92 million, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.25. The company has a fifty day moving average of $14.72 and a 200 day moving average of $14.66.

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

In related news, Director Manuel N. Stamatakis bought 5,000 shares of Mistras Group stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $14.60 per share, with a total value of $73,000.00. Following the completion of the transaction, the director now owns 122,718 shares in the company, valued at approximately $1,791,682.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 42.40% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Mistras Group during the second quarter valued at approximately $103,000. CHICAGO TRUST Co NA purchased a new position in Mistras Group during the second quarter valued at approximately $145,000. Prudential Financial Inc. increased its holdings in Mistras Group by 9.0% during the second quarter. Prudential Financial Inc. now owns 10,919 shares of the technology company’s stock valued at $157,000 after buying an additional 900 shares during the period. California Public Employees Retirement System boosted its stake in Mistras Group by 29.1% in the third quarter. California Public Employees Retirement System now owns 15,323 shares of the technology company’s stock valued at $251,000 after acquiring an additional 3,457 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Mistras Group in the third quarter valued at approximately $279,000. 58.48% of the stock is currently owned by 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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