Mistras Group (NYSE:MG) Stock Rating Cut to “Neutral” at Roth Capital

Mistras Group (NYSE:MG) was downgraded by research analysts at Roth Capital from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Briefing.com reports. They currently have a $20.35 target price on the technology company’s stock. Roth Capital‘s price target would indicate a potential upside of 0.97% from the company’s previous close.

Several other research firms have also recently weighed in on MG. Wall Street Zen cut Mistras Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Mistras Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.18.

Mistras Group Stock Performance

Shares of Mistras Group stock opened at $20.16 on Tuesday. The stock has a market cap of $641.94 million, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.23 and a beta of 0.90. The business has a fifty day simple moving average of $20.33 and a 200-day simple moving average of $17.33. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.75. Mistras Group has a 12 month low of $9.45 and a 12 month high of $21.92.

Mistras Group (NYSE:MG) last posted its quarterly earnings results on Monday, November 2nd. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.16). The business had revenue of $204.62 million for the quarter, compared to analyst estimates of $202.41 million. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. On average, sell-side analysts anticipate that Mistras Group will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Mistras Group

A number of hedge funds have recently modified their holdings of MG. Legal & General Group Plc purchased a new stake in shares of Mistras Group during the second quarter worth $30,000. State of Alaska Department of Revenue boosted its position in Mistras Group by 84.6% during the third quarter. State of Alaska Department of Revenue now owns 3,258 shares of the technology company’s stock valued at $68,000 after purchasing an additional 1,493 shares during the last quarter. State of Wyoming acquired a new stake in Mistras Group during the second quarter valued at $71,000. Public Employees Retirement System of Ohio purchased a new position in Mistras Group in the second quarter valued at about $227,000. Finally, Bank of America Corp DE purchased a new position in Mistras Group in the second quarter valued at about $249,000. 74.92% of the stock is owned by institutional investors and hedge funds.

Mistras Group Company Profile

Mistras Group, Inc provides asset protection and industrial inspection services designed to help companies monitor the condition, safety and performance of critical infrastructure. The company combines nondestructive testing, inspection, engineering, monitoring and data-management capabilities to identify defects and support maintenance decisions without interrupting the operation of industrial assets.

Its services and technologies include nondestructive testing and examination, mechanical integrity programs, acoustic-emission testing, structural health monitoring, rope access, remote visual inspection and other specialized inspection techniques.