Montrose Environmental Group, Inc. (NYSE:MEG) Given Consensus Rating of “Hold” by Brokerages

Montrose Environmental Group, Inc. (NYSE:MEG) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.50.

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Needham & Company LLC boosted their price objective on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Barclays upped their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their price target on Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Zacks Research cut Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total transaction of $1,082,764.88. Following the completion of the transaction, the chief executive officer owned 316,637 shares of the company’s stock, valued at approximately $7,621,452.59. The trade was a 12.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB bought a new stake in shares of Montrose Environmental Group during the 4th quarter valued at approximately $1,382,000. Tudor Investment Corp ET AL acquired a new stake in Montrose Environmental Group in the third quarter valued at approximately $3,979,000. Triumph Capital Management bought a new stake in shares of Montrose Environmental Group during the third quarter worth $308,000. Advisory Services Network LLC acquired a new position in shares of Montrose Environmental Group during the third quarter worth $32,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Montrose Environmental Group during the third quarter worth $1,151,000. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Stock Performance

NYSE:MEG opened at $25.91 on Tuesday. The company has a market cap of $915.52 million, a price-to-earnings ratio of -28.47, a PEG ratio of 1.86 and a beta of 1.97. Montrose Environmental Group has a fifty-two week low of $10.51 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a fifty day moving average price of $25.59 and a 200-day moving average price of $26.17.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. As a group, equities analysts anticipate that Montrose Environmental Group will post 0.13 EPS for the current fiscal year.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.