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

Montrose Environmental Group, Inc. (NYSE:MEG) has been given an average rating of “Hold” by the five analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $34.6667.

MEG has been the topic of several research reports. Needham & Company LLC lifted their price target on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th.

Montrose Environmental Group Stock Down 1.7%

MEG opened at $21.99 on Friday. The business’s fifty day simple moving average is $23.96 and its 200 day simple moving average is $25.86. Montrose Environmental Group has a 52 week low of $10.51 and a 52 week high of $32.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.68. The stock has a market cap of $791.24 million, a PE ratio of -91.63, a P/E/G ratio of 1.60 and a beta of 1.92.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The firm had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.90) EPS. As a group, research analysts expect that Montrose Environmental Group will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jose Revuelta sold 7,858 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $27.00, for a total transaction of $212,166.00. Following the completion of the sale, the insider owned 269,282 shares of the company’s stock, valued at approximately $7,270,614. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vijay Manthripragada sold 46,121 shares of Montrose Environmental Group stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the completion of the transaction, the chief executive officer directly owned 236,788 shares in the company, valued at approximately $6,016,783.08. The trade was a 16.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 107,527 shares of company stock worth $2,908,583. Insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Montrose Environmental Group

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Montrose Environmental Group during the third quarter worth about $32,000. Canada Pension Plan Investment Board raised its position in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after purchasing an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after buying an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Montrose Environmental Group in the 4th quarter worth approximately $75,000. Finally, Assetmark Inc. purchased a new position in shares of Montrose Environmental Group during the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

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.