Mistras Group (NYSE:MG) Reaches New 52-Week High - Here's Why

Key Points

• Mistras Group shares reached a new 52-week high of $21.92 and last traded at $21.67, up from the previous close of $21.46.
• Analysts maintain a generally positive outlook, with two Buy ratings and one Hold rating; the consensus is “Moderate Buy,” though the $19.00 target price is below the current share price.
• The company exceeded quarterly expectations, reporting $0.28 in EPS versus the $0.24 consensus and revenue of $193.13 million versus estimates of $189.66 million. Institutional investors own approximately 74.92% of the stock.

Mistras Group Inc (NYSE:MG - Get Free Report)'s share price hit a new 52-week high during trading on Monday. The stock traded as high as $21.92 and last traded at $21.67, with a volume of 27,792 shares changing hands. The stock had previously closed at $21.46.

Wall Street Analysts Forecast Growth

MG has been the subject of a number of recent research reports. Wall Street Zen cut Mistras Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Mistras Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Mistras Group Trading Up 0.6%

The stock has a 50 day moving average of $19.76 and a 200-day moving average of $18.07. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $687.64 million, a P/E ratio of 26.03, a P/E/G ratio of 1.29 and a beta of 0.90.

Mistras Group (NYSE:MG - Get Free Report) last issued its earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The company had revenue of $193.13 million during the quarter, compared to the consensus estimate of $189.66 million. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. On average, research analysts predict that Mistras Group Inc will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Mistras Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ellsworth Advisors LLC grew its holdings in shares of Mistras Group by 2.8% in the third quarter. Ellsworth Advisors LLC now owns 43,520 shares of the technology company's stock valued at $917,000 after purchasing an additional 1,204 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Mistras Group by 84.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,258 shares of the technology company's stock worth $68,000 after buying an additional 1,493 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Mistras Group in the 2nd quarter worth about $296,000. Empowered Funds LLC purchased a new stake in Mistras Group during the second quarter valued at approximately $3,939,000. Finally, Equitable Holdings Inc. purchased a new position in Mistras Group during the second quarter worth $1,510,000. 74.92% of the stock is owned by institutional investors.

Mistras Group Company Profile

MISTRAS Group, Inc NYSE: MG is an asset protection and industrial inspection company that helps organizations monitor the safety, reliability and integrity of critical infrastructure. Its services support industries including oil and gas, power generation, aerospace and defense, chemicals, transportation, infrastructure and manufacturing.

The company provides nondestructive testing (NDT), inspection, engineering, mechanical integrity and asset monitoring services. Its capabilities include acoustic emission testing, ultrasonic testing, radiography, visual inspection, rope access, corrosion assessment and structural health monitoring.

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