Montrose Environmental Group (NYSE:MEG) Rating Lowered to “Hold” at Wall Street Zen

Montrose Environmental Group (NYSE:MEG) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also issued reports on MEG. Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Barclays boosted their price target on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Needham & Company LLC increased their price objective on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research lowered Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Montrose Environmental Group currently has a consensus rating of “Hold” and an average price target of $34.40.

Montrose Environmental Group Stock Up 3.4%

MEG stock opened at $25.22 on Friday. 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 $891.38 million, a PE ratio of -27.72, a PEG ratio of 2.71 and a beta of 1.84. The firm’s 50 day moving average price is $27.18 and its 200-day moving average price is $24.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66.

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, topping the consensus estimate 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 company had revenue of $224.89 million during the quarter, compared to analyst estimates of $201.46 million. Montrose Environmental Group has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Montrose Environmental Group will post 0.13 EPS for the current year.

Insider Activity

In related news, CEO Vijay Manthripragada sold 44,984 shares of Montrose Environmental Group stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total value of $1,082,764.88. Following the completion of the transaction, the chief executive officer directly owned 316,637 shares in the company, valued at approximately $7,621,452.59. This trade represents a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

A number of hedge funds have recently bought and sold shares of MEG. Advisory Services Network LLC acquired a new position in shares of Montrose Environmental Group during the third quarter worth about $32,000. Canada Pension Plan Investment Board grew its holdings in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares in the last quarter. AlphaQuest LLC grew its holdings in Montrose Environmental Group by 569.3% during the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company’s stock worth $58,000 after acquiring an additional 3,484 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Montrose Environmental Group in the 1st quarter valued at $79,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

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.