Mistras Group (NYSE:MG) Shares Gap Down - Time to Sell?

Key Points

• Mistras Group shares fell 4%, opening at $20.47 versus a prior close of $21.24, before trading near $20.52.
• Analyst sentiment remains moderately positive, with two Buy ratings and one Hold; however, the average price target of $19.00 is below the current share price.
• The company beat quarterly expectations, reporting $0.28 EPS on $193.13 million in revenue, while institutional investors own approximately 74.9% of its stock.

Mistras Group Inc (NYSE:MG - Get Free Report)'s share price gapped down prior to trading on Tuesday. The stock had previously closed at $21.24, but opened at $20.47. Mistras Group shares last traded at $20.5190, with a volume of 119,500 shares changing hands.

Analyst Ratings Changes

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

Mistras Group Trading Down 4.0%

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 stock has a market cap of $649.20 million, a price-to-earnings ratio of 24.56, a PEG ratio of 1.29 and a beta of 0.90. The business has a fifty day simple moving average of $20.12 and a 200 day simple moving average of $17.13.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MG. Dimensional Fund Advisors LP raised its position in shares of Mistras Group by 2.1% in 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. Weber Capital Management LLC ADV acquired a new stake in Mistras Group in the second quarter valued at approximately $25,299,250. BlackRock Inc. purchased a new stake in Mistras Group during the 2nd quarter worth $20,373,000. Deutsche Bank AG acquired a new position in shares of Mistras Group in the second quarter worth about $6,804,000. Finally, Algert Global LLC raised its position in shares of Mistras Group by 29.8% in the 2nd quarter. Algert Global LLC now owns 232,669 shares of the technology company's stock valued at $4,065,000 after purchasing an additional 53,379 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company's stock.

About Mistras Group

Mistras Group, Inc provides asset protection and industrial inspection services designed to help companies monitor the condition, safety and performance of critical infrastructure. The company combines nondestructive testing, inspection, engineering, monitoring and data-management capabilities to identify defects and support maintenance decisions without interrupting the operation of industrial assets.

Its services and technologies include nondestructive testing and examination, mechanical integrity programs, acoustic-emission testing, structural health monitoring, rope access, remote visual inspection and other specialized inspection techniques.

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