Mistras Group (NYSE:MG) Hits New 12-Month High - Here's What Happened

Key Points

• Shares of Mistras Group hit a new 52-week high of $18.23 on Monday and last traded at $17.8450, with about 21,097 shares changing hands as the stock traded up roughly 1.2%.
• Wall Street shows a consensus Buy rating (consensus price target $16.00) with one Strong Buy and one Hold, and the company recently reported an earnings beat—Q EPS $0.25 vs. $0.20 expected and revenue $181.46M vs. $176.27M expected.
• Institutional investors own about 74.92% of Mistras, and multiple funds (including Empowered Funds, Arrowstreet and Qube Research) have materially increased their holdings recently.

Shares of Mistras Group Inc (NYSE:MG - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $18.23 and last traded at $17.8450, with a volume of 21097 shares traded. The stock had previously closed at $17.85.

Wall Street Analysts Forecast Growth

MG has been the subject of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Mistras Group in a research report on Thursday, January 22nd. Zacks Research upgraded Mistras Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, Mistras Group presently has a consensus rating of "Buy" and a consensus price target of $16.00.

Mistras Group Trading Up 1.2%

The firm has a 50-day moving average of $15.14 and a two-hundred day moving average of $13.18. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $574.83 million, a P/E ratio of 34.09, a P/E/G ratio of 1.06 and a beta of 0.74.

Mistras Group (NYSE:MG - Get Free Report) last issued its earnings results on Wednesday, March 4th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.05. Mistras Group had a return on equity of 12.77% and a net margin of 2.33%.The business had revenue of $181.46 million during the quarter, compared to analysts' expectations of $176.27 million. On average, analysts anticipate that Mistras Group Inc will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Mistras Group

A number of institutional investors and hedge funds have recently bought and sold shares of MG. Dynamic Technology Lab Private Ltd acquired a new position in Mistras Group in the 1st quarter worth about $256,000. Empowered Funds LLC increased its holdings in Mistras Group by 7.3% in the 1st quarter. Empowered Funds LLC now owns 218,088 shares of the technology company's stock worth $2,307,000 after purchasing an additional 14,786 shares in the last quarter. American Century Companies Inc. increased its holdings in Mistras Group by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 47,498 shares of the technology company's stock worth $380,000 after purchasing an additional 9,312 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Mistras Group by 33.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 153,312 shares of the technology company's stock worth $1,228,000 after purchasing an additional 38,366 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Mistras Group by 141.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 111,824 shares of the technology company's stock worth $896,000 after purchasing an additional 65,551 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company's stock.

Mistras Group Company Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company's offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.

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