Mistras Group (NYSE:MG) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen has upgraded Mistras Group from a "hold" rating to a "buy" rating, indicating a more favorable outlook for the company.
• Mistras Group recently reported earnings of $0.19 per share, surpassing expectations of $0.17, with a revenue of $185.41 million for the quarter.
• Institutional investors hold 74.92% of Mistras Group's stock, reflecting significant interest from hedge funds and investment firms.

Wall Street Zen upgraded shares of Mistras Group (NYSE:MG - Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.

Mistras Group Stock Up 3.5%

MG stock traded up $0.31 on Friday, hitting $9.04. 183,317 shares of the company's stock were exchanged, compared to its average volume of 140,897. Mistras Group has a 12-month low of $7.06 and a 12-month high of $12.44. The firm has a 50 day moving average price of $7.98 and a two-hundred day moving average price of $8.89. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.38 and a current ratio of 1.50. The stock has a market cap of $283.07 million, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.43.

Mistras Group (NYSE:MG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $185.41 million during the quarter, compared to analysts' expectations of $186.43 million. Mistras Group had a return on equity of 9.55% and a net margin of 1.64%. As a group, equities research analysts expect that Mistras Group will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Mistras Group

Large investors have recently bought and sold shares of the business. CSM Advisors LLC purchased a new stake in Mistras Group during the 2nd quarter worth approximately $2,917,000. Invesco Ltd. increased its stake in Mistras Group by 521.1% during the 1st quarter. Invesco Ltd. now owns 289,838 shares of the technology company's stock worth $3,066,000 after buying an additional 243,175 shares in the last quarter. Acuitas Investments LLC grew its position in shares of Mistras Group by 45.1% in the first quarter. Acuitas Investments LLC now owns 424,062 shares of the technology company's stock valued at $4,487,000 after purchasing an additional 131,798 shares in the last quarter. Mill Road Capital Management LLC grew its position in shares of Mistras Group by 7.8% in the fourth quarter. Mill Road Capital Management LLC now owns 1,724,482 shares of the technology company's stock valued at $15,624,000 after purchasing an additional 125,337 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Mistras Group by 225.6% in the fourth quarter. Ameriprise Financial Inc. now owns 160,087 shares of the technology company's stock valued at $1,450,000 after purchasing an additional 110,916 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company's stock.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.