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

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

Several research firms have recently commented on MEG. Zacks Research lowered Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Needham & Company LLC raised their price objective on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Barclays upped their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, November 7th.

Insider Buying and Selling at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 44,984 shares of the 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 directly owned 316,637 shares in the company, valued at approximately $7,621,452.59. This represents a 12.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MEG. Advisory Services Network LLC purchased a new stake in shares of Montrose Environmental Group in the 3rd quarter valued at approximately $32,000. Canada Pension Plan Investment Board boosted its position in shares of Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after purchasing an additional 1,600 shares during the period. Tower Research Capital LLC TRC increased 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 during the last quarter. Assetmark Inc. purchased a new stake in Montrose Environmental Group in the fourth quarter valued at approximately $84,000. Finally, CWM LLC lifted its stake in 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. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Up 3.9%

Shares of Montrose Environmental Group stock opened at $23.14 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66. The stock’s 50 day simple moving average is $24.99 and its 200-day simple moving average is $26.20. The stock has a market cap of $817.77 million, a P/E ratio of -25.43, a P/E/G ratio of 1.57 and a beta of 2.02. Montrose Environmental Group has a 1-year low of $10.51 and a 1-year high of $32.00.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 EPS for the quarter, beating 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 firm had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Analysts predict that Montrose Environmental Group will post 0.13 EPS for the current fiscal year.

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.