Montrose Environmental Group, Inc. (NYSE:MEG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have earned an average rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $33.50.

Several analysts recently weighed in on the stock. Needham & Company LLC lifted 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. Wall Street Zen upgraded shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays boosted their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price 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.

Insider Buying and Selling at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total value of $1,082,764.88. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new stake in Montrose Environmental Group in the 3rd quarter valued at about $3,979,000. Triumph Capital Management bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth approximately $308,000. Advisory Services Network LLC acquired a new stake in Montrose Environmental Group during the third quarter valued at approximately $32,000. Dark Forest Capital Management LP bought a new stake in Montrose Environmental Group during the third quarter worth approximately $1,151,000. Finally, Prelude Capital Management LLC acquired a new stake in Montrose Environmental Group during the 3rd quarter worth about $251,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Price Performance

Shares of MEG opened at $25.79 on Tuesday. Montrose Environmental Group has a 12 month low of $10.51 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a fifty day moving average price of $25.62 and a 200 day moving average price of $26.03. The company has a market cap of $911.52 million, a P/E ratio of -28.34, a PEG ratio of 1.48 and a beta of 1.97.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $224.89 million during the quarter, compared to the consensus estimate of $201.46 million. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. On average, research analysts forecast that Montrose Environmental Group will post 0.13 earnings per share for the current year.

Montrose Environmental Group Company Profile

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.