Mistras Group (NYSE:MG) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Mistras Group shares crossed above their 200-day moving average, reaching $20.70 and last trading near $20.60, compared with a 200-day average of $17.67.
• Analysts maintain a consensus “Moderate Buy” rating, though the $19.00 average price target is below the recent trading level. Two analysts rate the stock Buy and one rates it Hold.
• Mistras Group exceeded quarterly expectations, reporting $0.28 in EPS versus $0.24 expected and revenue of $193.13 million versus $189.66 million estimated; institutional investors own 74.92% of the company.

Mistras Group Inc (NYSE:MG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $17.67 and traded as high as $20.70. Mistras Group shares last traded at $20.6040, with a volume of 435,026 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MG. Wall Street Zen lowered Mistras Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Mistras Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, September 28th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Mistras Group has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Mistras Group Stock Down 0.2%

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 stock's 50-day moving average price is $18.81 and its 200-day moving average price is $17.67. The company has a market cap of $656.24 million, a P/E ratio of 24.82, a PEG ratio of 1.24 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 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%.The business had revenue of $193.13 million during the quarter, compared to analyst estimates of $189.66 million. As a group, research analysts forecast that Mistras Group Inc will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Mistras Group

A number of large investors have recently modified their holdings of MG. Legal & General Group Plc purchased a new stake in shares of Mistras Group in the second quarter valued at about $30,000. Invenomic Capital Management LP boosted its holdings in Mistras Group by 0.7% during the fourth quarter. Invenomic Capital Management LP now owns 475,692 shares of the technology company's stock worth $6,018,000 after purchasing an additional 3,156 shares during the last quarter. Empowered Funds LLC grew its position in Mistras Group by 1.8% in the 1st quarter. Empowered Funds LLC now owns 225,494 shares of the technology company's stock worth $3,333,000 after purchasing an additional 4,058 shares in the last quarter. State of Wyoming bought a new stake in Mistras Group in the 2nd quarter worth about $71,000. Finally, Bank of New York Mellon Corp increased its stake in Mistras Group by 12.6% in the 1st quarter. Bank of New York Mellon Corp now owns 63,129 shares of the technology company's stock valued at $933,000 after buying an additional 7,055 shares during the last quarter. 74.92% of the stock is currently owned by institutional investors.

About Mistras Group

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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