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

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have been assigned an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $33.50.

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

Montrose Environmental Group Stock Performance

Shares of MEG stock opened at $22.27 on Friday. 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 firm’s 50 day moving average price is $25.04 and its 200-day moving average price is $26.14. Montrose Environmental Group has a one year low of $10.51 and a one year high of $32.00. The firm has a market cap of $787.16 million, a P/E ratio of -24.48, a P/E/G ratio of 1.57 and a beta of 1.97.

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

Insider Activity at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 44,984 shares of Montrose Environmental Group stock in a transaction dated Tuesday, November 11th. The shares were 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 $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 is accessible through this hyperlink. Company insiders own 11.90% of the company’s stock.

Institutional Trading of Montrose Environmental Group

A number of institutional investors have recently modified their holdings of MEG. Vanguard Group Inc. boosted its position in shares of Montrose Environmental Group by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock worth $49,328,000 after purchasing an additional 57,437 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Montrose Environmental Group by 63.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 116,415 shares of the company’s stock worth $2,891,000 after purchasing an additional 45,124 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Montrose Environmental Group by 44.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,860 shares of the company’s stock worth $369,000 after buying an additional 4,574 shares in the last quarter. CWM LLC increased its position in Montrose Environmental Group by 8.6% during the 4th quarter. CWM LLC now owns 8,324 shares of the company’s stock worth $207,000 after purchasing an additional 659 shares in the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of Montrose Environmental Group during the fourth quarter worth about $84,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

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.