Mistras Group (NYSE:MG) Stock Rating Lowered by Wall Street Zen

Key Points

• Mistras Group has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a more cautious outlook for the stock.
• The company's stock opened at $9.07, with a 12-month price range between a low of $7.06 and a high of $12.44.
• Despite reporting earnings of $0.19 per share, which exceeded expectations, Mistras Group's revenue fell slightly short of forecasted estimates.

Mistras Group (NYSE:MG - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

Mistras Group Price Performance

Mistras Group stock opened at $9.07 on Friday. Mistras Group has a 12 month low of $7.06 and a 12 month high of $12.44. The company has a current ratio of 1.66, a quick ratio of 1.38 and a debt-to-equity ratio of 0.89. The business's 50 day simple moving average is $8.10 and its 200 day simple moving average is $8.87. The company has a market cap of $286.07 million, a price-to-earnings ratio of 24.51, a PEG ratio of 0.85 and a beta of 1.43.

Mistras Group (NYSE:MG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. Mistras Group had a return on equity of 9.37% and a net margin of 1.64%. The business had revenue of $185.41 million for the quarter, compared to the consensus estimate of $186.43 million. Sell-side analysts forecast that Mistras Group will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Mistras Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MG. JPMorgan Chase & Co. raised its holdings in Mistras Group by 49.8% during the 4th quarter. JPMorgan Chase & Co. now owns 93,667 shares of the technology company's stock valued at $849,000 after acquiring an additional 31,155 shares during the period. Geode Capital Management LLC raised its holdings in Mistras Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 455,532 shares of the technology company's stock valued at $4,128,000 after acquiring an additional 2,143 shares during the period. Barclays PLC raised its holdings in Mistras Group by 5.2% during the 4th quarter. Barclays PLC now owns 39,706 shares of the technology company's stock valued at $359,000 after acquiring an additional 1,946 shares during the period. XTX Topco Ltd raised its holdings in Mistras Group by 83.8% during the 4th quarter. XTX Topco Ltd now owns 24,377 shares of the technology company's stock valued at $221,000 after acquiring an additional 11,113 shares during the period. Finally, Marshall Wace LLP raised its holdings in Mistras Group by 10.6% during the 4th quarter. Marshall Wace LLP now owns 76,093 shares of the technology company's stock valued at $689,000 after acquiring an additional 7,308 shares during the period. Institutional investors own 74.92% of the company's stock.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.

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