Mistras Group (NYSE:MG) Shares Gap Down - What's Next?

Key Points

• Mistras Group shares fell 6.7%, opening at $17.99 after closing at $18.59, with the latest trading price around $18.33.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and an average price target of $19.00, despite Roth Capital’s $22.00 “Buy” target.
• Mistras Group exceeded quarterly expectations, reporting $0.28 EPS versus the $0.24 consensus and revenue of $193.13 million versus estimates of $189.66 million. Institutional investors own approximately 74.92% of the shares.

Mistras Group Inc (NYSE:MG - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $18.59, but opened at $17.99. Mistras Group shares last traded at $18.3250, with a volume of 7,664 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MG shares. Roth Capital started coverage on shares of Mistras Group in a research note on Thursday, April 30th. They issued a "buy" rating and a $22.00 price objective for the company. Wall Street Zen raised Mistras Group from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Mistras Group in a report on Friday, July 17th. Finally, Zacks Research lowered Mistras Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Mistras Group presently has an average rating of "Hold" and an average target price of $19.00.

Mistras Group Trading Down 6.7%

The firm has a market capitalization of $551.76 million, a PE ratio of 20.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.81 and a quick ratio of 1.67. The company has a fifty day moving average of $16.97 and a 200-day moving average of $16.29.

Mistras Group (NYSE:MG - Get Free Report) 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. The company had revenue of $193.13 million for the quarter, compared to analyst estimates of $189.66 million. Mistras Group had a return on equity of 14.79% and a net margin of 3.65%. On average, sell-side analysts anticipate that Mistras Group Inc will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Mistras Group

A number of institutional investors have recently added to or reduced their stakes in MG. MetLife Investment Management LLC raised its position in shares of Mistras Group by 17.8% in the fourth quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company's stock valued at $89,000 after purchasing an additional 1,065 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Mistras Group by 22.5% during the third quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company's stock worth $73,000 after buying an additional 1,360 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Mistras Group by 2.5% in the fourth quarter. First Trust Advisors LP now owns 56,879 shares of the technology company's stock valued at $720,000 after acquiring an additional 1,396 shares during the period. Raymond James Financial Inc. grew its stake in shares of Mistras Group by 18.2% in the second quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company's stock worth $114,000 after acquiring an additional 2,183 shares during the last quarter. Finally, Torren Management LLC bought a new position in Mistras Group during the fourth quarter worth $28,000. 74.92% of the stock is currently owned by institutional investors and hedge funds.

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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