Mistras Group (NYSE:MG) Shares Gap Up – What’s Next?

Mistras Group Inc (NYSE:MG)’s share price gapped up before the market opened on Friday . The stock had previously closed at $19.84, but opened at $20.66. Mistras Group shares last traded at $21.0480, with a volume of 735,949 shares traded.

Analyst Ratings Changes

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

Mistras Group Price Performance

The company has a fifty day simple moving average of $17.55 and a two-hundred day simple moving average of $17.14. 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 company has a market capitalization of $665.06 million, a price-to-earnings ratio of 25.16, a P/E/G ratio of 1.16 and a beta of 0.92.

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

Hedge Funds Weigh In On Mistras Group

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Mistras Group by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,703,681 shares of the technology company’s stock worth $25,180,000 after acquiring an additional 35,835 shares during the period. Weber Capital Management LLC ADV purchased a new stake in Mistras Group in the second quarter valued at approximately $25,299,250. Royce & Associates LP grew its holdings in Mistras Group by 5.8% in the fourth quarter. Royce & Associates LP now owns 1,421,087 shares of the technology company’s stock valued at $17,977,000 after purchasing an additional 78,340 shares during the period. BlackRock Inc. acquired a new position in Mistras Group during the second quarter worth approximately $20,373,000. Finally, Invenomic Capital Management LP increased its position in Mistras Group by 0.7% during the fourth quarter. Invenomic Capital Management LP now owns 475,692 shares of the technology company’s stock worth $6,018,000 after purchasing an additional 3,156 shares during the last quarter. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

About Mistras Group

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.