Mistras Group (NYSE:MG) Reaches New 1-Year High – Here’s Why

Mistras Group Inc (NYSE:MG)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $20.40 and last traded at $20.0940, with a volume of 393817 shares. The stock had previously closed at $19.36.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MG shares. Weiss Ratings lowered Mistras Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 8th. Wall Street Zen downgraded Mistras Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Mistras Group presently has an average rating of “Hold” and a consensus target price of $19.00.

Mistras Group Stock Performance

The firm has a fifty day simple moving average of $17.48 and a 200-day simple moving average of $17.11. The company has a market cap of $625.69 million, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.18 and a beta of 0.92. 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 posted its earnings results on Monday, August 10th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $189.66 million. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. On average, research analysts forecast that Mistras Group Inc will post 1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Mistras Group

Large investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Mistras Group during the second quarter worth approximately $296,000. Empowered Funds LLC purchased a new stake in Mistras Group in the 2nd quarter valued at $3,939,000. Equitable Holdings Inc. acquired a new stake in Mistras Group during the 2nd quarter worth $1,510,000. Public Employees Retirement System of Ohio acquired a new stake in Mistras Group during the 2nd quarter worth $227,000. Finally, Bank of America Corp DE purchased a new position in Mistras Group during the 2nd quarter worth $249,000. 74.92% of the stock is owned by institutional investors and hedge funds.

Mistras Group Company Profile

Mistras Group, Inc (NYSE: MG) is an asset protection and industrial inspection company that helps organizations monitor the condition, safety and performance of critical infrastructure. Its services are designed to identify defects, prevent equipment failures and support regulatory compliance across industrial and infrastructure assets.

The company provides nondestructive testing and inspection, engineering and consulting, mechanical integrity programs, asset monitoring and data-management services.