Montrose Environmental Group (NYSE:MEG) Earns Buy Rating from Stifel Nicolaus

Montrose Environmental Group (NYSE:MEGGet Free Report)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $51.00 price objective on the stock, up from their prior price objective of $48.00. Stifel Nicolaus’ price objective would suggest a potential upside of 15.99% from the company’s current price.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a report on Friday, March 1st. JPMorgan Chase & Co. boosted their price target on shares of Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, March 1st.

Check Out Our Latest Stock Analysis on Montrose Environmental Group

Montrose Environmental Group Stock Performance

MEG opened at $43.97 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a fifty day moving average price of $35.31 and a 200 day moving average price of $31.21. Montrose Environmental Group has a 1 year low of $21.96 and a 1 year high of $45.96. The stock has a market cap of $1.34 billion, a P/E ratio of -27.83 and a beta of 2.00.

Montrose Environmental Group (NYSE:MEGGet Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.08. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. The firm had revenue of $165.74 million during the quarter, compared to analysts’ expectations of $157.31 million. Equities research analysts anticipate that Montrose Environmental Group will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Montrose Environmental Group

A number of hedge funds have recently modified their holdings of MEG. Captrust Financial Advisors purchased a new position in shares of Montrose Environmental Group during the first quarter worth approximately $29,000. Stephens Inc. AR grew its position in shares of Montrose Environmental Group by 494.2% during the first quarter. Stephens Inc. AR now owns 1,432 shares of the company’s stock worth $51,000 after acquiring an additional 1,191 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Montrose Environmental Group during the second quarter worth approximately $57,000. Pinebridge Investments L.P. purchased a new position in shares of Montrose Environmental Group during the second quarter worth approximately $58,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Montrose Environmental Group during the third quarter worth $67,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Company Profile

(Get Free Report)

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.

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