Mistras Group (NYSE:MG) Shares Gap Up - What's Next?

Key Points

• Mistras Group shares jumped, opening at $20.66 versus the prior close of $19.84 and last trading near $21.05.
• Analyst sentiment is cautious: the stock has a consensus “Hold” rating and a $19.00 target price, below its current trading level.
• The company exceeded quarterly expectations, reporting $0.28 EPS versus $0.24 expected and $193.13 million in revenue versus $189.66 million; institutional investors own 74.92% of shares.

Mistras Group Inc (NYSE:MG - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $19.84, but opened at $20.66. Mistras Group shares last traded at $21.0480, with a volume of 735,949 shares changing hands.

Analyst Upgrades and Downgrades

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

Mistras Group Price Performance

The firm has a market cap of $665.06 million, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. 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 50 day moving average price of $17.55 and a 200 day moving average price of $17.14.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Weber Capital Management LLC ADV purchased a new stake in Mistras Group in the 2nd quarter valued at approximately $25,299,250. BlackRock Inc. acquired a new stake in Mistras Group during the 2nd quarter valued at $20,373,000. Deutsche Bank AG purchased a new position in Mistras Group during the second quarter worth $6,804,000. Empowered Funds LLC purchased a new position in Mistras Group during the second quarter worth $3,939,000. Finally, JB Capital Partners LP acquired a new position in shares of Mistras Group in the second quarter worth $3,533,185. Institutional investors and hedge funds own 74.92% of the company's stock.

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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