Mistras Group (NYSE:MG) Shares Gap Down – Here’s What Happened

Shares of Mistras Group Inc (NYSE:MG) 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.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings upgraded Mistras Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Wall Street Zen lowered Mistras Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the 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 Up 0.1%

The firm’s 50 day simple moving average is $20.27 and its two-hundred day simple moving average is $17.24. The stock has a market capitalization of $651.91 million, a P/E ratio of 24.66, a P/E/G ratio of 1.29 and a beta of 0.90. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.75.

Mistras Group (NYSE:MG) last released its quarterly earnings data on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. The company had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $189.66 million. As a group, analysts forecast that Mistras Group Inc will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mistras Group

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in shares of Mistras Group in the 2nd quarter worth approximately $30,000. State of Alaska Department of Revenue grew its position in Mistras Group by 84.6% during the third quarter. State of Alaska Department of Revenue now owns 3,258 shares of the technology company’s stock valued at $68,000 after buying an additional 1,493 shares during the period. State of Wyoming purchased a new stake in Mistras Group during the second quarter valued at approximately $71,000. Public Employees Retirement System of Ohio purchased a new stake in Mistras Group during the second quarter valued at approximately $227,000. Finally, Bank of America Corp DE purchased a new stake in Mistras Group during the second quarter valued at approximately $249,000. 74.92% of the stock is owned by institutional investors and hedge funds.

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.