Mistras Group (NYSE:MG) Hits New 52-Week High – Here’s Why

Mistras Group Inc (NYSE:MG)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $20.20 and last traded at $19.7060, with a volume of 66453 shares trading hands. The stock had previously closed at $19.45.

Analyst Ratings Changes

A number of brokerages have issued reports on MG. Weiss Ratings raised Mistras Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Mistras Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research lowered Mistras Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Roth Capital initiated coverage on Mistras Group in a research report on Thursday, April 30th. They set a “buy” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.00.

Mistras Group Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 1.71. The stock’s 50-day moving average is $17.02 and its 200 day moving average is $16.52. The stock has a market capitalization of $603.24 million, a PE ratio of 22.82, a P/E/G ratio of 1.17 and a beta of 0.89.

Mistras Group (NYSE:MG) last announced its quarterly earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share for the quarter, beating 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 firm had revenue of $193.13 million during the quarter, compared to analysts’ expectations of $189.66 million. As a group, equities analysts expect that Mistras Group Inc will post 1.04 earnings per share for the current year.

Institutional Trading of Mistras Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Mistras Group during the 2nd quarter worth approximately $30,000. Torren Management LLC acquired a new position in Mistras Group during the fourth quarter worth approximately $28,000. State of Wyoming purchased a new stake in Mistras Group in the second quarter valued at approximately $71,000. Kemnay Advisory Services Inc. purchased a new stake in Mistras Group in the fourth quarter valued at approximately $74,000. Finally, MetLife Investment Management LLC boosted its holdings in shares of Mistras Group by 17.8% in the fourth quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company’s stock valued at $89,000 after acquiring an additional 1,065 shares during the period. 74.92% of the stock is owned by hedge funds and other institutional investors.

Mistras Group Company Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.