Montrose Environmental Group (NYSE:MEG) Stock Price Down 6.7% – Time to Sell?

Montrose Environmental Group, Inc. (NYSE:MEG)’s share price traded down 6.7% during trading on Monday . The stock traded as low as $24.32 and last traded at $24.19. 63,811 shares traded hands during trading, a decline of 86% from the average session volume of 470,557 shares. The stock had previously closed at $25.92.

Analyst Ratings Changes

MEG has been the topic of several recent research reports. Wall Street Zen upgraded Montrose Environmental Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Barclays raised their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday. Zacks Research lowered Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Needham & Company LLC upped their target price on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Montrose Environmental Group currently has an average rating of “Hold” and a consensus price target of $34.40.

Montrose Environmental Group Price Performance

The company has a 50-day moving average of $28.20 and a 200 day moving average of $24.19. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $874.56 million, a PE ratio of -27.19, a PEG ratio of 2.76 and a beta of 1.84.

Montrose Environmental Group (NYSE:MEG) last announced its earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $224.89 million for 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%. Montrose Environmental Group has set its FY 2025 guidance at EPS. Sell-side analysts predict that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Montrose Environmental Group in the first quarter valued at approximately $627,000. Lane Generational LLC lifted its holdings in Montrose Environmental Group by 27.2% in the first quarter. Lane Generational LLC now owns 61,779 shares of the company’s stock valued at $881,000 after acquiring an additional 13,213 shares during the last quarter. Royce & Associates LP lifted its holdings in Montrose Environmental Group by 167.5% in the first quarter. Royce & Associates LP now owns 852,849 shares of the company’s stock valued at $12,162,000 after acquiring an additional 533,986 shares during the last quarter. Summit Creek Advisors LLC grew its position in Montrose Environmental Group by 1.2% in the first quarter. Summit Creek Advisors LLC now owns 584,514 shares of the company’s stock worth $8,335,000 after acquiring an additional 6,840 shares during the period. Finally, Federated Hermes Inc. increased its stake in Montrose Environmental Group by 55.0% during the first quarter. Federated Hermes Inc. now owns 24,800 shares of the company’s stock worth $354,000 after acquiring an additional 8,800 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

About Montrose Environmental Group

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.