Montrose Environmental Group (NYSE:MEG) Stock Rating Upgraded by JPMorgan Chase & Co.

Montrose Environmental Group (NYSE:MEG) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm currently has a $41.00 target price on the stock, down from their previous target price of $46.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 59.10% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a research note on Tuesday, September 19th. Royal Bank of Canada upped their price objective on Montrose Environmental Group from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.75.

Montrose Environmental Group Price Performance

Shares of NYSE:MEG opened at $25.77 on Thursday. The firm has a market capitalization of $777.22 million, a PE ratio of -13.56 and a beta of 1.79. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.53. Montrose Environmental Group has a 1-year low of $21.96 and a 1-year high of $55.00. The business’s 50 day moving average is $28.48 and its 200-day moving average is $35.22.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). Montrose Environmental Group had a negative return on equity of 10.12% and a negative net margin of 6.73%. The business had revenue of $159.10 million for the quarter, compared to analyst estimates of $144.13 million. Sell-side analysts predict that Montrose Environmental Group will post -0.46 earnings per share for the current year.

Insider Buying and Selling at Montrose Environmental Group

In other news, Director De Castro Jose Migue Fernandez acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $32.94 per share, with a total value of $329,400.00. Following the completion of the acquisition, the director now owns 139,110 shares in the company, valued at approximately $4,582,283.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 11.90% of the company’s stock.

Institutional Trading of Montrose Environmental Group

Several large investors have recently made changes to their positions in MEG. Captrust Financial Advisors acquired a new position in Montrose Environmental Group during the 1st quarter worth about $29,000. Global Retirement Partners LLC bought a new position in Montrose Environmental Group in the 1st quarter worth approximately $27,000. Pinebridge Investments L.P. acquired a new position in Montrose Environmental Group during the 2nd quarter worth $58,000. Stephens Inc. AR boosted its position in Montrose Environmental Group by 494.2% in the 1st quarter. Stephens Inc. AR now owns 1,432 shares of the company’s stock valued at $51,000 after buying an additional 1,191 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Montrose Environmental Group by 22.1% in the 4th quarter. Citigroup Inc. now owns 1,633 shares of the company’s stock valued at $72,000 after buying an additional 296 shares during the period. Institutional investors own 89.88% of the company’s stock.

Montrose Environmental Group Company Profile

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