Mistras Group (NYSE:MG) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Mistras Group Inc (NYSE:MG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.10 and traded as high as $18.70. Mistras Group shares last traded at $18.6170, with a volume of 95,384 shares traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on MG shares. Weiss Ratings reissued a “hold (c)” rating on shares of Mistras Group in a research note on Tuesday, April 21st. Zacks Research downgraded Mistras Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of Mistras Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, Roth Mkm assumed coverage on Mistras Group in a report on Thursday, April 30th. They set a “buy” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.00.

Mistras Group Price Performance

The company’s fifty day moving average is $17.59 and its two-hundred day moving average is $15.12. The firm has a market capitalization of $595.51 million, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87. The company has a quick ratio of 1.67, a current ratio of 1.81 and a debt-to-equity ratio of 0.80.

Mistras Group (NYSE:MG) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.08 earnings per share for the quarter. Mistras Group had a net margin of 3.06% and a return on equity of 13.60%. The company had revenue of $169.03 million for the quarter, compared to analyst estimates of $164.25 million. Equities research analysts anticipate that Mistras Group Inc will post 1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC raised its holdings in Mistras Group by 17.8% during the fourth quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company’s stock worth $89,000 after buying an additional 1,065 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Mistras Group by 22.5% during the third quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company’s stock valued at $73,000 after purchasing an additional 1,360 shares during the last quarter. First Trust Advisors LP boosted its holdings in Mistras Group by 2.5% in the 4th quarter. First Trust Advisors LP now owns 56,879 shares of the technology company’s stock valued at $720,000 after purchasing an additional 1,396 shares during the period. Raymond James Financial Inc. raised its stake in Mistras Group by 18.2% in the second quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,183 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in Mistras Group in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.92% of the company’s stock.

About Mistras Group

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.