Mistras Group (NYSE:MG) Shares Gap Up Following Earnings Beat

Key Points

• Mistras Group shares surged after opening at $17.24 versus the prior close of $15.79, later trading at $18.32 following the company’s quarterly earnings beat.
• The company reported earnings per share of $0.28, ahead of the $0.24 consensus estimate, while revenue of $193.13 million exceeded expectations of $189.66 million.
• Analysts maintain a consensus “Hold” rating with a $19.00 price target, while institutional investors own approximately 74.92% of the stock.

Mistras Group Inc (NYSE:MG - Get Free Report) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $15.79, but opened at $17.24. Mistras Group shares last traded at $18.32, with a volume of 33,915 shares traded.

The technology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. The business had revenue of $193.13 million for the quarter, compared to analysts' expectations of $189.66 million. Mistras Group had a net margin of 3.06% and a return on equity of 13.60%.

Wall Street Analysts Forecast Growth

MG has been the topic of several research reports. Zacks Research lowered Mistras Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Mistras Group in a report on Friday, July 17th. Roth Capital started coverage on Mistras Group in a research report on Thursday, April 30th. They set a "buy" rating and a $22.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Mistras Group from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Mistras Group has a consensus rating of "Hold" and a consensus price target of $19.00.

Hedge Funds Weigh In On Mistras Group

Hedge funds have recently bought and sold shares of the company. Weber Capital Management LLC ADV bought a new stake in Mistras Group during the 4th quarter valued at about $18,749,000. BlackRock Inc. purchased a new stake in shares of Mistras Group during the second quarter valued at approximately $20,373,000. IES Holdings Inc. bought a new stake in shares of Mistras Group during the fourth quarter valued at approximately $13,660,000. Deutsche Bank AG bought a new stake in shares of Mistras Group during the second quarter valued at approximately $6,804,000. Finally, Sei Investments Co. raised its holdings in Mistras Group by 249.4% in the 1st quarter. Sei Investments Co. now owns 204,840 shares of the technology company's stock worth $3,028,000 after acquiring an additional 146,222 shares during the last quarter. Institutional investors own 74.92% of the company's stock.

Mistras Group Price Performance

The firm has a market capitalization of $583.10 million, a P/E ratio of 26.20, a PEG ratio of 0.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 1.81. The firm has a 50-day moving average of $16.96 and a 200-day moving average of $16.26.

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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