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

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $34.40.

MEG has been the topic of several recent analyst reports. Needham & Company LLC lifted their price target on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Zacks Research cut shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. raised their price objective on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded Montrose Environmental Group from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Insider Transactions at Montrose Environmental Group

In related news, CEO Vijay Manthripragada sold 44,984 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total transaction of $1,082,764.88. Following the completion of the transaction, the chief executive officer owned 316,637 shares of the company’s stock, valued at $7,621,452.59. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.20% of the stock is currently owned by company insiders.

Institutional Trading of Montrose Environmental Group

Several institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its position in Montrose Environmental Group by 4.3% during the third quarter. Creative Planning now owns 51,586 shares of the company’s stock valued at $1,417,000 after purchasing an additional 2,105 shares during the period. California State Teachers Retirement System raised its stake in Montrose Environmental Group by 7.2% during the 3rd quarter. California State Teachers Retirement System now owns 30,049 shares of the company’s stock valued at $825,000 after buying an additional 2,021 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Montrose Environmental Group by 23.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,286 shares of the company’s stock valued at $282,000 after buying an additional 1,953 shares during the period. Scotia Capital Inc. purchased a new position in shares of Montrose Environmental Group in the 3rd quarter worth $847,000. Finally, Brooklyn Investment Group boosted its stake in shares of Montrose Environmental Group by 1,165.4% in the 3rd quarter. Brooklyn Investment Group now owns 9,807 shares of the company’s stock worth $269,000 after buying an additional 9,032 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Price Performance

MEG opened at $24.28 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $858.20 million, a P/E ratio of -26.69, a PEG ratio of 2.70 and a beta of 1.84. The stock has a 50-day moving average price of $27.65 and a 200-day moving average price of $24.53. Montrose Environmental Group has a 12-month low of $10.51 and a 12-month high of $32.00.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $224.89 million during the quarter, compared to analyst estimates of $201.46 million. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. Montrose Environmental Group has set its FY 2025 guidance at EPS. Equities analysts predict that Montrose Environmental Group will post 0.13 earnings per share for the current fiscal year.

About Montrose Environmental Group

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