Mistras Group Inc (NYSE:MG) Downgraded by Zacks Investment Research to “Sell”
Mistras Group Inc (NYSE:MG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.
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. “
Other equities research analysts have also recently issued reports about the company. Canaccord Genuity reduced their target price on Mistras Group from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $47.00 target price on shares of Mistras Group in a report on Friday, May 12th. Finally, Robert W. Baird reduced their target price on Mistras Group from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.40.
Mistras Group (NYSE:MG) opened at 18.01 on Friday. Mistras Group has a 12 month low of $17.66 and a 12 month high of $26.46. The stock’s 50 day moving average price is $21.17 and its 200 day moving average price is $21.70. The company has a market capitalization of $510.49 million, a price-to-earnings ratio of 38.32 and a beta of 1.15.
Mistras Group (NYSE:MG) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.07. Mistras Group had a return on equity of 7.02% and a net margin of 2.69%. The firm had revenue of $170.44 million during the quarter, compared to the consensus estimate of $170.16 million. Equities research analysts anticipate that Mistras Group will post $0.48 earnings per share for the current fiscal year.
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In other Mistras Group news, Chairman Sotirios J. Vahaviolos sold 90,490 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $21.25, for a total transaction of $1,922,912.50. Following the sale, the chairman now directly owns 10,561,142 shares of the company’s stock, valued at $224,424,267.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $21.08, for a total value of $2,000,007.16. Following the sale, the chairman now directly owns 10,651,632 shares in the company, valued at $224,536,402.56. The disclosure for this sale can be found here. Insiders have sold 279,573 shares of company stock worth $5,922,913 over the last three months. 44.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the company. Engine Capital Management LLC boosted its stake in shares of Mistras Group by 5,323.9% in the first quarter. Engine Capital Management LLC now owns 314,805 shares of the technology company’s stock valued at $6,731,000 after buying an additional 309,001 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Mistras Group by 66.6% in the first quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock valued at $106,000 after buying an additional 1,981 shares during the last quarter. State Street Corp boosted its stake in shares of Mistras Group by 1.2% in the fourth quarter. State Street Corp now owns 326,477 shares of the technology company’s stock valued at $8,385,000 after buying an additional 3,814 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Mistras Group during the fourth quarter valued at $269,000. Finally, Broad Run Investment Management LLC boosted its stake in shares of Mistras Group by 6.7% in the first quarter. Broad Run Investment Management LLC now owns 1,550,246 shares of the technology company’s stock valued at $33,144,000 after buying an additional 97,886 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.
About Mistras Group
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