Mistras Group (NYSE:MG) Hits New 1-Year High – What’s Next?

Mistras Group Inc (NYSE:MG) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $21.42 and last traded at $21.3470, with a volume of 254437 shares. The stock had previously closed at $20.94.

Analysts Set New Price Targets

Several research analysts recently weighed in on MG shares. Weiss Ratings cut Mistras Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 8th. Wall Street Zen lowered shares of Mistras Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Mistras Group has an average rating of “Hold” and a consensus target price of $19.00.

Mistras Group Stock Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 1.71. The stock’s 50-day simple moving average is $17.93 and its 200 day simple moving average is $17.30. The company has a market cap of $682.39 million, a PE ratio of 25.85, a P/E/G ratio of 1.25 and a beta of 0.92.

Mistras Group (NYSE:MG) last issued its earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. The company had revenue of $193.13 million for the quarter, compared to analyst estimates of $189.66 million. As a group, equities analysts anticipate that Mistras Group Inc will post 1.04 EPS for the current year.

Institutional Investors Weigh In On Mistras Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Weber Capital Management LLC ADV bought a new position in shares of Mistras Group in the 2nd quarter worth about $25,299,250. Dimensional Fund Advisors LP grew its position in shares of Mistras Group by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,703,681 shares of the technology company’s stock valued at $25,180,000 after buying an additional 35,835 shares during the last quarter. BlackRock Inc. acquired a new stake in Mistras Group during the second quarter worth about $20,373,000. Royce & Associates LP raised its stake in Mistras Group by 5.8% during the fourth quarter. Royce & Associates LP now owns 1,421,087 shares of the technology company’s stock worth $17,977,000 after acquiring an additional 78,340 shares during the period. Finally, Deutsche Bank AG bought a new position in Mistras Group in the second quarter worth about $6,804,000. Institutional investors own 74.92% of the company’s stock.

Mistras Group Company Profile

Mistras Group, Inc (NYSE: MG) is an asset protection and industrial inspection company that helps organizations monitor the condition, safety and performance of critical infrastructure. Its services are designed to identify defects, prevent equipment failures and support regulatory compliance across industrial and infrastructure assets.

The company provides nondestructive testing and inspection, engineering and consulting, mechanical integrity programs, asset monitoring and data-management services.