Montrose Environmental Group (NYSE:MEG) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Montrose Environmental Group (NYSE:MEG) had its price target raised by analysts at Needham & Company LLC from $32.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 19.79% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Barclays lifted their price objective on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.67.

Montrose Environmental Group Trading Up 2.1%

Shares of Montrose Environmental Group stock opened at $29.22 on Thursday. Montrose Environmental Group has a twelve month low of $10.51 and a twelve month high of $32.00. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $24.03 and a 200-day moving average price of $26.24. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -121.73, a PEG ratio of 2.02 and a beta of 2.02.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $193.27 million during the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.45% and a negative net margin of 0.10%.The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.90) earnings per share. Equities research analysts anticipate that Montrose Environmental Group will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Montrose Environmental Group

Several institutional investors have recently made changes to their positions in MEG. Invesco Ltd. raised its position in Montrose Environmental Group by 17.6% in the 4th quarter. Invesco Ltd. now owns 170,650 shares of the company’s stock worth $4,237,000 after purchasing an additional 25,518 shares during the period. XTX Topco Ltd bought a new position in shares of Montrose Environmental Group during the fourth quarter valued at approximately $386,000. Tudor Investment Corp ET AL raised its holdings in shares of Montrose Environmental Group by 16.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 168,699 shares of the company’s stock worth $4,189,000 after buying an additional 23,802 shares during the period. Numerai GP LLC purchased a new position in Montrose Environmental Group during the 4th quarter valued at $254,000. Finally, Gotham Asset Management LLC bought a new position in Montrose Environmental Group in the 4th quarter valued at $688,000. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

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.