Montrose Environmental Group, Inc. (NYSE:MEG – Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $46.45 and last traded at $46.36, with a volume of 181580 shares. The stock had previously closed at $44.51.
Analyst Ratings Changes
A number of equities research analysts have weighed in on MEG shares. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a report on Thursday, April 4th. Stifel Nicolaus reiterated a “buy” rating and set a $51.00 target price (up previously from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised 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.
View Our Latest Research Report on MEG
Montrose Environmental Group Stock Performance
Montrose Environmental Group (NYSE:MEG – Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $165.74 million during the quarter, compared to analyst estimates of $157.31 million. On average, equities analysts expect that Montrose Environmental Group, Inc. will post -0.18 EPS for the current year.
Hedge Funds Weigh In On Montrose Environmental Group
Large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its stake in shares of Montrose Environmental Group by 453.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock worth $53,000 after purchasing an additional 1,111 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Montrose Environmental Group by 182.2% during the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock valued at $98,000 after acquiring an additional 1,971 shares in the last quarter. Quantbot Technologies LP bought a new position in Montrose Environmental Group during the 3rd quarter valued at $109,000. Cladis Investment Advisory LLC purchased a new position in Montrose Environmental Group during the 4th quarter worth $209,000. Finally, Versor Investments LP bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth $214,000. Institutional investors own 87.87% of the company’s stock.
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.
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