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

Montrose Environmental Group, Inc. (NYSE:MEG) has earned an average rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $33.50.

A number of analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Needham & Company LLC lifted their price objective on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Barclays lifted their target price 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.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 316,637 shares of the company’s stock, valued at $7,621,452.59. The trade was a 12.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Montrose Environmental Group

Several hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Montrose Environmental Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after purchasing an additional 780 shares in the last quarter. Millennium Management LLC increased its position in shares of Montrose Environmental Group by 4.4% during the first quarter. Millennium Management LLC now owns 1,504,541 shares of the company’s stock valued at $21,455,000 after buying an additional 62,826 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Montrose Environmental Group in the first quarter worth about $690,000. Goldman Sachs Group Inc. boosted its position in shares of Montrose Environmental Group by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after acquiring an additional 92,671 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Montrose Environmental Group by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock valued at $33,913,000 after acquiring an additional 97,035 shares in the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Performance

NYSE MEG opened at $26.29 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $928.91 million, a PE ratio of -28.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.97. Montrose Environmental Group has a 52-week low of $10.51 and a 52-week high of $32.00. The company has a 50-day simple moving average of $25.57 and a 200 day simple moving average of $26.12.

Montrose Environmental Group (NYSE:MEG) last released its earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $224.89 million during the quarter, compared to the consensus estimate of $201.46 million. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. On average, research analysts predict that Montrose Environmental Group will post 0.13 EPS for the current year.

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.