Mistras Group (NYSE:MG) Sets New 52-Week High - Time to Buy?

Key Points

• Mistras Group reached a new 52-week high of $21.42, trading about 2.3% higher and well above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and a $19.00 price target, below its current trading level.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.28 versus $0.24 expected and revenue of $193.13 million versus $189.66 million expected; institutional investors own nearly 75% of its shares.

Mistras Group Inc (NYSE:MG - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $21.42 and last traded at $21.3470, with a volume of 254437 shares. The stock had previously closed at $20.94.

Wall Street Analysts Forecast Growth

MG has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Mistras Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, September 8th. Wall Street Zen downgraded Mistras Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Mistras Group currently has a consensus rating of "Hold" and a consensus price target of $19.00.

Mistras Group Trading Up 2.3%

The stock has a 50-day moving average price of $17.93 and a two-hundred day moving average price of $17.30. The stock has a market capitalization of $682.39 million, a PE ratio of 25.85, a PEG ratio of 1.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 1.71.

Mistras Group (NYSE:MG - Get Free Report) last released its 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 return on equity of 14.66% and a net margin of 3.65%.The firm had revenue of $193.13 million during the quarter, compared to analysts' expectations of $189.66 million. As a group, equities analysts forecast that Mistras Group Inc will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Mistras Group

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

About Mistras Group

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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