Mistras Group Inc. (NYSE:MG) released its quarterly earnings data on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. Mistras Group had a return on equity of 10.61% and a net margin of 3.43%. The company earned $168.40 million during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. Mistras Group updated its FY17 guidance to $0.88-0.97 EPS.
Mistras Group (NYSE:MG) opened at 23.33 on Friday. Mistras Group has a one year low of $17.84 and a one year high of $26.47. The firm has a 50-day moving average price of $23.82 and a 200 day moving average price of $24.47. The firm has a market capitalization of $675.52 million, a PE ratio of 28.45 and a beta of 1.20.
In other news, insider Dennis Bertolotti sold 21,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total transaction of $524,370.00. Following the transaction, the insider now directly owns 101,062 shares of the company’s stock, valued at $2,523,518.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 45.60% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MG. Rational Advisors LLC bought a new position in shares of Mistras Group during the second quarter worth about $128,000. PNC Financial Services Group Inc. boosted its position in shares of Mistras Group by 97.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,425 shares of the company’s stock worth $153,000 after buying an additional 3,164 shares during the period. BlackRock Group LTD boosted its position in shares of Mistras Group by 54.5% in the second quarter. BlackRock Group LTD now owns 6,903 shares of the company’s stock worth $165,000 after buying an additional 2,434 shares during the period. Globeflex Capital L P bought a new position in shares of Mistras Group during the second quarter worth about $186,000. Finally, BlackRock Advisors LLC boosted its position in shares of Mistras Group by 4.2% in the second quarter. BlackRock Advisors LLC now owns 8,381 shares of the company’s stock worth $200,000 after buying an additional 335 shares during the period. 56.35% of the stock is currently owned by hedge funds and other institutional investors.
MG has been the subject of a number of recent analyst reports. Zacks Investment Research raised Mistras Group from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Friday, July 22nd. TD Securities dropped their price target on Mistras Group from $51.00 to $46.00 and set a “buy” rating for the company in a report on Monday, July 11th. Robert W. Baird raised Mistras Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $27.00 to $28.00 in a report on Friday, August 12th. Finally, CIBC lifted their price target on Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $41.75.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.
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