Analysts Set Montrose Environmental Group, Inc. (NYSE:MEG) Price Target at $48.08

Montrose Environmental Group, Inc. (NYSE:MEGGet Rating) has earned a consensus rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $48.08.

Several brokerages have issued reports on MEG. National Bank Financial upped their target price on Montrose Environmental Group from C$15.00 to C$18.50 in a research note on Thursday, January 6th. Needham & Company LLC cut their target price on Montrose Environmental Group from $84.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, March 1st. JPMorgan Chase & Co. began coverage on Montrose Environmental Group in a research note on Friday, March 18th. They set a “neutral” rating for the company. Finally, Zacks Investment Research lowered Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 5th.

In other Montrose Environmental Group news, Director James K. Price purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was bought at an average price of $41.90 per share, with a total value of $1,047,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MEG. Truist Financial Corp lifted its stake in Montrose Environmental Group by 2,211.2% in the third quarter. Truist Financial Corp now owns 1,155,764 shares of the company’s stock worth $71,357,000 after acquiring an additional 1,105,756 shares during the period. Capital Research Global Investors lifted its stake in Montrose Environmental Group by 88.8% in the third quarter. Capital Research Global Investors now owns 1,849,746 shares of the company’s stock worth $114,203,000 after acquiring an additional 869,957 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Montrose Environmental Group by 111.0% in the third quarter. UBS Asset Management Americas Inc. now owns 1,398,475 shares of the company’s stock worth $86,342,000 after acquiring an additional 735,554 shares during the period. Champlain Investment Partners LLC purchased a new stake in Montrose Environmental Group in the fourth quarter worth $38,281,000. Finally, Granite Investment Partners LLC lifted its stake in Montrose Environmental Group by 673.9% in the third quarter. Granite Investment Partners LLC now owns 558,998 shares of the company’s stock worth $34,513,000 after acquiring an additional 486,767 shares during the period. 93.17% of the stock is owned by institutional investors.

Shares of MEG opened at $51.18 on Friday. The stock has a 50 day moving average price of $48.60. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. Montrose Environmental Group has a 1 year low of $38.35 and a 1 year high of $80.42.

Montrose Environmental Group (NYSE:MEGGet Rating) last issued its earnings results on Monday, February 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.21). The firm had revenue of $143.79 million during the quarter, compared to analysts’ expectations of $122.23 million. Montrose Environmental Group had a positive return on equity of 4.25% and a negative net margin of 4.64%. Sell-side analysts anticipate that Montrose Environmental Group will post 0.21 earnings per share for the current fiscal year.

Montrose Environmental Group Company Profile (Get Rating)

Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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.

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Analyst Recommendations for Montrose Environmental Group (NYSE:MEG)

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