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

Montrose Environmental Group, Inc. (NYSE:MEG) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $33.50.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Barclays upped their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. 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. Needham & Company LLC upped their target price on Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock opened at $22.27 on Friday. The firm has a market capitalization of $787.16 million, a P/E ratio of -24.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.97. The company’s 50-day moving average is $25.04 and its 200 day moving average is $26.14. Montrose Environmental Group has a 1-year low of $10.51 and a 1-year high of $32.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $224.89 million during the quarter, compared to analyst estimates of $201.46 million. Research analysts forecast that Montrose Environmental Group will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 44,984 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were 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 directly owned 316,637 shares of the company’s stock, valued at approximately $7,621,452.59. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in shares of Montrose Environmental Group during the 3rd quarter valued at approximately $32,000. Canada Pension Plan Investment Board lifted its position in shares of Montrose Environmental Group by 533.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after acquiring an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in 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 in the last quarter. Assetmark Inc. acquired a new position in Montrose Environmental Group during the fourth quarter worth about $84,000. Finally, CWM LLC boosted its holdings in shares of Montrose Environmental Group by 1,015.3% during the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock worth $99,000 after purchasing an additional 4,102 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.