Brokerages Set Montrose Environmental Group, Inc. (NYSE:MEG) Price Target at $33.50

Montrose Environmental Group, Inc. (NYSE:MEG) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $33.50.

MEG has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Zacks Research downgraded Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Wall Street Zen raised Montrose Environmental Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. 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 research note on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th.

Insider Buying and Selling at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 44,984 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total value of $1,082,764.88. Following the transaction, the chief executive officer directly owned 316,637 shares in the company, valued at $7,621,452.59. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Several hedge funds have recently added to or reduced their stakes in MEG. Advisory Services Network LLC bought a new stake in shares of Montrose Environmental Group during the 3rd quarter valued at about $32,000. Canada Pension Plan Investment Board grew 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 buying an additional 1,600 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of 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 acquiring an additional 1,508 shares in the last quarter. CWM LLC lifted its position in shares of Montrose Environmental Group by 1,015.3% during the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock valued at $99,000 after acquiring an additional 4,102 shares during the period. Finally, AlphaQuest LLC boosted its stake in Montrose Environmental Group by 17.4% during the second quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock worth $105,000 after acquiring an additional 713 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

MEG opened at $25.76 on Tuesday. The stock has a fifty day moving average of $25.56 and a 200-day moving average of $26.05. The firm has a market capitalization of $910.36 million, a P/E ratio of -28.31, a PEG ratio of 1.78 and a beta of 1.97. Montrose Environmental Group has a 12-month low of $10.51 and a 12-month 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 data 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 firm had revenue of $224.89 million during the quarter, compared to the consensus estimate of $201.46 million. Equities analysts forecast 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.