Mistras Group (NYSE:MG) Raised to "Buy" at Wall Street Zen

Key Points

• Mistras Group has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating positive sentiment from analysts about the company's future performance.
• The company's stock opened at $9.73 with a market capitalization of approximately $306.95 million and a price-to-earnings ratio of 26.30.
• Institutional investors hold a significant stake in Mistras Group, with 74.92% of the stock owned by institutional investors and hedge funds, reflecting strong institutional interest.

Wall Street Zen upgraded shares of Mistras Group (NYSE:MG - Free Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Mistras Group Trading Up 2.0%

MG stock traded up $0.19 during midday trading on Friday, hitting $9.72. 89,578 shares of the company's stock were exchanged, compared to its average volume of 97,398. The company has a market cap of $306.52 million, a PE ratio of 26.27, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The stock's fifty day moving average price is $8.75 and its 200-day moving average price is $8.81. Mistras Group has a one year low of $7.06 and a one year high of $12.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.54 and a current ratio of 1.66.

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

Hedge Funds Weigh In On Mistras Group

Large investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of 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. Raymond James Financial Inc. grew its position in shares of Mistras Group by 18.2% during the 2nd quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company's stock valued at $114,000 after purchasing an additional 2,183 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Mistras Group by 19.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,983 shares of the technology company's stock worth $136,000 after acquiring an additional 2,400 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Mistras Group by 10.6% during the 4th quarter. BNP Paribas Financial Markets now owns 28,929 shares of the technology company's stock worth $262,000 after acquiring an additional 2,764 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Mistras Group by 194.3% during the 1st quarter. CWM LLC now owns 4,553 shares of the technology company's stock worth $48,000 after acquiring an additional 3,006 shares during the last quarter. Institutional investors own 74.92% of the company's stock.

About Mistras Group

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.