Montrose Environmental Group, Inc. (NYSE:MEG) Receives $33.50 Average Target Price from Analysts

Montrose Environmental Group, Inc. (NYSE:MEG) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on 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 research firms have issued reports on MEG. Needham & Company LLC raised their target price on Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Zacks Research downgraded shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Barclays boosted their target price 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. Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th.

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 stock was 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 owned 316,637 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 11.20% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bamco Inc. NY grew its position in Montrose Environmental Group by 2.5% in the 2nd quarter. Bamco Inc. NY now owns 2,764,395 shares of the company’s stock valued at $60,513,000 after buying an additional 68,713 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Montrose Environmental Group by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock worth $33,913,000 after acquiring an additional 97,035 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Montrose Environmental Group by 21.8% in the second quarter. William Blair Investment Management LLC now owns 2,317,660 shares of the company’s stock valued at $50,734,000 after acquiring an additional 414,272 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Montrose Environmental Group by 2.6% in the third quarter. Vanguard Group Inc. now owns 1,929,183 shares of the company’s stock valued at $52,975,000 after acquiring an additional 49,652 shares in the last quarter. Finally, Millennium Management LLC increased its stake 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 acquiring an additional 62,826 shares during the period. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Stock Performance

Shares of MEG stock opened at $26.69 on Friday. The company has a market cap of $943.30 million, a P/E ratio of -29.33, a PEG ratio of 2.97 and a beta of 1.99. The business has a 50 day moving average of $26.41 and a two-hundred day moving average of $25.57. Montrose Environmental Group has a 52 week low of $10.51 and a 52 week 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.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) 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 business had revenue of $224.89 million for the quarter, compared to the consensus estimate of $201.46 million. As a group, analysts anticipate that Montrose Environmental Group will post 0.13 EPS for the current year.

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.