Zacks Investment Research Downgrades Mistras Group (MG) to Sell

Mistras Group (NYSE:MG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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. “

Several other equities research analysts also recently weighed in on MG. ValuEngine downgraded shares of Mistras Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Canaccord Genuity initiated coverage on shares of Mistras Group in a report on Wednesday. They issued a “hold” rating and a $20.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.33.

MG stock opened at $17.31 on Friday. Mistras Group has a one year low of $16.46 and a one year high of $23.83. The firm has a market capitalization of $492.04 million, a PE ratio of 40.26, a PEG ratio of 0.72 and a beta of 1.31. The company has a quick ratio of 2.01, a current ratio of 2.09 and a debt-to-equity ratio of 0.56.

Mistras Group (NYSE:MG) last released its earnings results on Monday, November 5th. The technology company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.11). Mistras Group had a return on equity of 6.42% and a net margin of 1.17%. The firm had revenue of $182.17 million during the quarter, compared to analyst estimates of $181.50 million. As a group, research analysts expect that Mistras Group will post 0.73 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MG. Millennium Management LLC raised its holdings in Mistras Group by 429.9% during the 1st quarter. Millennium Management LLC now owns 72,663 shares of the technology company’s stock worth $1,376,000 after buying an additional 58,950 shares during the period. Atria Investments LLC acquired a new stake in Mistras Group during the 2nd quarter worth about $196,000. Rockefeller Capital Management L.P. raised its holdings in Mistras Group by 5.6% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 904,446 shares of the technology company’s stock worth $17,076,000 after buying an additional 47,757 shares during the period. Engineers Gate Manager LP acquired a new stake in Mistras Group during the 2nd quarter worth about $215,000. Finally, Rutabaga Capital Management LLC MA raised its holdings in Mistras Group by 10.0% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 921,404 shares of the technology company’s stock worth $17,396,000 after buying an additional 84,024 shares during the period. Hedge funds and other institutional investors own 59.06% of the company’s stock.

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 engineering services; and designs, manufactures, sells, installs, and services acoustic emission (AE) sensors, instruments, and turn-key systems used for monitoring and testing materials, pressure components, processes, and structures.

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