Mistras Group (NYSE:MG) Sees Strong Trading Volume - Still a Buy?

Key Points

• Mistras Group’s shares traded at $20.60 amid elevated volume, though volume fell 9% from the prior session. The stock remains above its 50-day and 200-day moving averages.
• Analyst sentiment is cautious: one analyst rates MG a Buy and two rate it Hold, producing a consensus Hold rating and a $19.00 price target—below the current share price.
• Mistras Group exceeded quarterly expectations, reporting $0.28 in EPS versus a $0.24 estimate and revenue of $193.13 million versus $189.66 million expected. Hedge funds and other institutions own approximately 74.92% of the stock.

Mistras Group Inc (NYSE:MG - Get Free Report) saw unusually-high trading volume on Monday . 186,934 shares were traded during trading, a decline of 9% from the previous session's volume of 206,411 shares.The stock last traded at $20.5980 and had previously closed at $20.75.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MG. Weiss Ratings lowered shares of Mistras Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 8th. Wall Street Zen cut shares of Mistras Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Mistras Group has a consensus rating of "Hold" and a consensus price target of $19.00.

Mistras Group Stock Up 0.1%

The firm's 50-day moving average price is $17.64 and its two-hundred day moving average price is $17.18. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 1.71. The firm has a market cap of $661.75 million, a PE ratio of 24.99, a P/E/G ratio of 1.25 and a beta of 0.92.

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

Hedge Funds Weigh In On Mistras Group

Several hedge funds have recently added to or reduced their stakes in the business. Weber Capital Management LLC ADV acquired a new position in shares of Mistras Group in the second quarter worth $25,299,250. Dimensional Fund Advisors LP increased its stake in Mistras Group by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,703,681 shares of the technology company's stock worth $25,180,000 after buying an additional 35,835 shares during the period. BlackRock Inc. acquired a new position in shares of Mistras Group in the second quarter worth about $20,373,000. Royce & Associates LP raised its position in shares of Mistras Group by 5.8% in the 4th quarter. Royce & Associates LP now owns 1,421,087 shares of the technology company's stock valued at $17,977,000 after purchasing an additional 78,340 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Mistras Group during the 2nd quarter valued at $6,804,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

Mistras Group Company Profile

Mistras Group, Inc NYSE: MG is an asset protection and industrial inspection company that helps organizations monitor the condition, safety and performance of critical infrastructure. Its services are designed to identify defects, prevent equipment failures and support regulatory compliance across industrial and infrastructure assets.

The company provides nondestructive testing and inspection, engineering and consulting, mechanical integrity programs, asset monitoring and data-management services.

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