Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) Director Richard E. Perlman sold 31,035 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $52.72, for a total transaction of $1,636,165.20. Following the completion of the sale, the director now directly owns 870,800 shares in the company, valued at approximately $45,908,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Montrose Environmental Group Stock Performance
Montrose Environmental Group stock opened at $53.16 on Wednesday. The firm’s 50 day simple moving average is $46.27 and its 200 day simple moving average is $42.28. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.58 billion, a PE ratio of -40.58 and a beta of 1.63. Montrose Environmental Group, Inc. has a 1-year low of $28.36 and a 1-year high of $57.49.
Montrose Environmental Group (NYSE:MEG – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.13). Montrose Environmental Group had a negative return on equity of 6.42% and a negative net margin of 4.10%. The company had revenue of $130.31 million during the quarter, compared to analysts’ expectations of $141.46 million. As a group, analysts expect that Montrose Environmental Group, Inc. will post -1.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Montrose Environmental Group
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Montrose Environmental Group from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 14th. Bank of America raised shares of Montrose Environmental Group from a “neutral” rating to a “buy” rating in a report on Monday, December 12th. Finally, Needham & Company LLC upped their target price on shares of Montrose Environmental Group from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Montrose Environmental Group currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.
About Montrose Environmental Group
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.
- Get a free copy of the StockNews.com research report on Montrose Environmental Group (MEG)
- Pliant Therapeutics Gaps 34% Higher: More Upside To Come?
- How Will Early 2023 Layoffs Affect These 5 Biotech Stocks?
- Is the Pain Over for Baudax Bio Investors after a 70% Spike?
- Will Rocket Lab’s First U.S. Launch Send Stock Into Stratosphere?
- When Will Crane Holdings Take Flight?
Receive News & Ratings for Montrose Environmental Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Montrose Environmental Group and related companies with MarketBeat.com's FREE daily email newsletter.