Mistras Group Inc (NYSE:MG) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
MG has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Mistras Group from a “sell” rating to a “hold” rating in a report on Thursday, June 8th. Robert W. Baird cut their price objective on shares of Mistras Group from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. Canaccord Genuity cut their price objective on shares of Mistras Group from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, August 10th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $47.00 price objective on shares of Mistras Group in a report on Friday, May 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $34.40.
Shares of Mistras Group (NYSE MG) traded down 1.69% during trading on Friday, reaching $17.41. 37,288 shares of the company traded hands. Mistras Group has a 12-month low of $17.27 and a 12-month high of $26.46. The stock has a market capitalization of $491.83 million, a P/E ratio of 37.04 and a beta of 1.15. The firm’s 50 day moving average is $20.80 and its 200-day moving average is $21.55.
Mistras Group (NYSE:MG) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.07. The business had revenue of $170.44 million during the quarter, compared to analysts’ expectations of $170.16 million. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. On average, equities research analysts anticipate that Mistras Group will post $0.50 earnings per share for the current fiscal year.
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In other news, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $21.08, for a total value of $2,000,007.16. Following the transaction, the chairman now owns 10,651,632 shares in the company, valued at $224,536,402.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael C. Keefe sold 4,462 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $18.05, for a total transaction of $80,539.10. Following the completion of the transaction, the executive vice president now owns 47,223 shares in the company, valued at approximately $852,375.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,035 shares of company stock worth $6,003,452. Insiders own 44.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of Mistras Group by 0.4% in the second quarter. Wells Fargo & Company MN now owns 14,422 shares of the technology company’s stock valued at $317,000 after buying an additional 63 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Mistras Group by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 14,481 shares of the technology company’s stock valued at $318,000 after buying an additional 114 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Mistras Group by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 14,714 shares of the technology company’s stock valued at $323,000 after buying an additional 487 shares in the last quarter. American International Group Inc. increased its position in shares of Mistras Group by 7.0% in the first quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock valued at $226,000 after buying an additional 694 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Mistras Group by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 41,818 shares of the technology company’s stock valued at $1,074,000 after buying an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 57.16% of the company’s stock.
Mistras Group Company Profile
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