Wall Street Zen Downgrades Mistras Group (NYSE:MG) to Hold

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.

Wall Street Zen downgraded shares of Mistras Group (NYSE:MG - Free Report) from a buy rating to a hold rating in a report released on Sunday morning.

Mistras Group Price Performance

Shares of Mistras Group stock traded up $0.0570 on Friday, hitting $9.2370. The company had a trading volume of 72,269 shares, compared to its average volume of 111,375. The business has a 50-day simple moving average of $8.21 and a 200-day simple moving average of $8.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.54. The company has a market cap of $291.33 million, a PE ratio of 24.96, a PEG ratio of 0.86 and a beta of 1.43. Mistras Group has a 52 week low of $7.06 and a 52 week high of $12.44.

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

Institutional Trading of Mistras Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MG. JPMorgan Chase & Co. lifted its stake in Mistras Group by 49.8% during the fourth quarter. JPMorgan Chase & Co. now owns 93,667 shares of the technology company's stock valued at $849,000 after purchasing an additional 31,155 shares during the last quarter. Geode Capital Management LLC boosted its stake in Mistras Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 455,532 shares of the technology company's stock worth $4,128,000 after purchasing an additional 2,143 shares during the period. Barclays PLC boosted its stake in Mistras Group by 5.2% in the 4th quarter. Barclays PLC now owns 39,706 shares of the technology company's stock worth $359,000 after purchasing an additional 1,946 shares during the period. XTX Topco Ltd boosted its stake in Mistras Group by 83.8% in the 4th quarter. XTX Topco Ltd now owns 24,377 shares of the technology company's stock worth $221,000 after purchasing an additional 11,113 shares during the period. Finally, Marshall Wace LLP boosted its stake in Mistras Group by 10.6% in the 4th quarter. Marshall Wace LLP now owns 76,093 shares of the technology company's stock worth $689,000 after purchasing an additional 7,308 shares during the period. 74.92% of the stock is owned by institutional investors and hedge funds.

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.