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

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.50.

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

Insider Transactions at Montrose Environmental Group

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 sale, the chief executive officer owned 316,637 shares in the company, valued at approximately $7,621,452.59. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Montrose Environmental Group

A number of hedge funds and other institutional investors have recently modified their holdings of MEG. Advisory Services Network LLC purchased a new position in shares of Montrose Environmental Group during the 3rd quarter valued at $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 position in shares of Montrose Environmental Group by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after acquiring an additional 1,508 shares in the last quarter. Assetmark Inc. bought a new position in shares of Montrose Environmental Group in the fourth quarter worth about $84,000. Finally, CWM LLC grew its position in shares of Montrose Environmental Group by 1,015.3% during the second quarter. CWM LLC now owns 4,506 shares of the company’s stock worth $99,000 after purchasing an additional 4,102 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Up 4.8%

Montrose Environmental Group stock opened at $24.66 on Friday. Montrose Environmental Group has a one year low of $10.51 and a one year high of $32.00. The stock has a fifty day moving average of $24.84 and a 200 day moving average of $26.20. 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 stock has a market cap of $871.38 million, a PE ratio of -27.10, a price-to-earnings-growth ratio of 1.66 and a beta of 2.02.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating 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 business had revenue of $224.89 million during the quarter, compared to the consensus estimate of $201.46 million. As a group, sell-side 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.