Mistras Group Inc (NYSE:MG) had its price objective reduced by Canaccord Genuity from $22.00 to $20.00 in a research note issued on Thursday. The brokerage currently has a “hold” rating on the technology company’s stock. Canaccord Genuity’s target price points to a potential upside of 9.59% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Mistras Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BMO Capital Markets reiterated a “market perform” rating and issued a $47.00 target price on shares of Mistras Group in a report on Friday, May 12th. Finally, Robert W. Baird cut their target price on Mistras Group from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $34.40.
Shares of Mistras Group (NYSE:MG) traded down 4.75% during mid-day trading on Thursday, hitting $18.25. 273,796 shares of the stock were exchanged. The stock has a market capitalization of $518.98 million, a P/E ratio of 38.83 and a beta of 1.15. Mistras Group has a 12-month low of $17.66 and a 12-month high of $26.46. The stock’s 50 day moving average price is $21.35 and its 200-day moving average price is $21.76.
Mistras Group (NYSE:MG) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.07. Mistras Group had a return on equity of 8.50% and a net margin of 2.71%. The firm had revenue of $170.44 million during the quarter, compared to the consensus estimate of $170.16 million. On average, equities research analysts expect that Mistras Group will post $0.55 EPS for the current fiscal year.
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In other Mistras Group news, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $21.08, for a total transaction of $2,000,007.16. Following the transaction, the chairman now directly owns 10,651,632 shares in the company, valued at approximately $224,536,402.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Sotirios J. Vahaviolos sold 90,490 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $21.25, for a total value of $1,922,912.50. Following the transaction, the chairman now owns 10,561,142 shares in the company, valued at $224,424,267.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,573 shares of company stock worth $5,922,913. Company insiders own 44.70% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System bought a new position in shares of Mistras Group during the fourth quarter valued at $269,000. State Street Corp boosted its position in shares of Mistras Group by 1.2% in the fourth quarter. State Street Corp now owns 326,477 shares of the technology company’s stock valued at $8,385,000 after buying an additional 3,814 shares during the period. Teachers Advisors LLC boosted its position in shares of Mistras Group by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 41,818 shares of the technology company’s stock valued at $1,074,000 after buying an additional 785 shares during the period. Capital Impact Advisors LLC boosted its position in shares of Mistras Group by 102.5% in the first quarter. Capital Impact Advisors LLC now owns 78,738 shares of the technology company’s stock valued at $1,683,000 after buying an additional 39,850 shares during the period. Finally, Rockefeller Financial Services Inc. boosted its position in shares of Mistras Group by 23.3% in the first quarter. Rockefeller Financial Services Inc. now owns 781,248 shares of the technology company’s stock valued at $16,703,000 after buying an additional 147,429 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.
About Mistras Group
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