Analysts Set Montrose Environmental Group, Inc. (NYSE:MEG) PT at $33.67

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have been assigned an average recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $34.6667.

Several research analysts recently commented on the stock. Barclays raised their price objective on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Needham & Company LLC lifted their price target on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bamco Inc. NY boosted its position in shares of Montrose Environmental Group by 2.5% in the second quarter. Bamco Inc. NY now owns 2,764,395 shares of the company’s stock valued at $60,513,000 after acquiring an additional 68,713 shares during the period. Vanguard Group Inc. lifted its stake in Montrose Environmental Group by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock worth $49,328,000 after purchasing an additional 57,437 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Montrose Environmental Group by 128.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after purchasing an additional 975,770 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Montrose Environmental Group by 14.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock valued at $36,192,000 after purchasing an additional 179,855 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Montrose Environmental Group by 3,407.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock valued at $28,080,000 after purchasing an additional 1,246,199 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Up 2.1%

Shares of NYSE MEG opened at $29.22 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $1.03 billion, a PE ratio of -121.73, a P/E/G ratio of 2.06 and a beta of 1.91. Montrose Environmental Group has a one year low of $10.51 and a one year high of $32.00. The business’s fifty day moving average price is $24.03 and its 200-day moving average price is $26.23.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $193.27 million for the quarter, compared to analysts’ expectations of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.90) EPS. On average, equities research analysts anticipate 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.