Mistras Group (NYSE:MG) Upgraded 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.

Mistras Group (NYSE:MG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

Mistras Group Price Performance

Shares of Mistras Group stock opened at $9.73 on Friday. The firm has a fifty day simple moving average of $8.62 and a 200-day simple moving average of $8.82. The company has a current ratio of 1.66, a quick ratio of 1.54 and a debt-to-equity ratio of 0.89. Mistras Group has a 1-year low of $7.06 and a 1-year high of $12.44. The stock has a market capitalization of $306.95 million, a price-to-earnings ratio of 26.30, a PEG ratio of 0.91 and a beta of 1.33.

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

Institutional Trading of Mistras Group

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its stake in shares of Mistras Group by 41.9% in the fourth quarter. Millennium Management LLC now owns 99,763 shares of the technology company's stock worth $904,000 after buying an additional 29,454 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Mistras Group during the 4th quarter valued at $274,000. Voya Investment Management LLC acquired a new position in Mistras Group during the 4th quarter valued at $124,000. Deutsche Bank AG raised its stake in Mistras Group by 3.0% during the 4th quarter. Deutsche Bank AG now owns 160,755 shares of the technology company's stock valued at $1,456,000 after purchasing an additional 4,655 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Mistras Group by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,461,339 shares of the technology company's stock valued at $13,240,000 after purchasing an additional 102,665 shares during the last quarter. 74.92% of the stock is currently owned by institutional investors and hedge funds.

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.

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