Mistras Group (NYSE:MG) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Mistras Group Inc (NYSE:MG) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.05 and traded as high as $14.77. Mistras Group shares last traded at $14.70, with a volume of 106,106 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MG. Weiss Ratings restated a “hold (c)” rating on shares of Mistras Group in a research note on Thursday, January 22nd. Zacks Research cut shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. UBS Group set a $16.00 price objective on shares of Mistras Group in a research note on Thursday, November 20th. Finally, Wall Street Zen upgraded Mistras Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

Mistras Group Stock Up 4.3%

The company has a 50 day moving average of $13.29 and a 200-day moving average of $11.05. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.89 and a quick ratio of 1.77. The company has a market cap of $463.79 million, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 0.89 and a beta of 0.89.

Mistras Group (NYSE:MG) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.20. The business had revenue of $195.55 million for the quarter, compared to the consensus estimate of $189.94 million. Mistras Group had a net margin of 2.55% and a return on equity of 13.10%. On average, equities analysts predict that Mistras Group Inc will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Mistras Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP raised its holdings in Mistras Group by 5.6% in the 3rd quarter. Royce & Associates LP now owns 1,342,747 shares of the technology company’s stock worth $13,213,000 after purchasing an additional 71,490 shares in the last quarter. LSV Asset Management increased its position in shares of Mistras Group by 130.8% during the second quarter. LSV Asset Management now owns 51,001 shares of the technology company’s stock valued at $409,000 after buying an additional 28,901 shares during the period. Raiffeisen Bank International AG bought a new position in Mistras Group in the second quarter worth about $431,000. Squarepoint Ops LLC purchased a new stake in Mistras Group in the second quarter worth about $781,000. Finally, Acuitas Investments LLC boosted its position in Mistras Group by 51.7% during the 3rd quarter. Acuitas Investments LLC now owns 643,483 shares of the technology company’s stock valued at $6,332,000 after acquiring an additional 219,421 shares in the last quarter. Institutional investors own 74.92% of the company’s stock.

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.