Montrose Environmental Group (NYSE:MEG – Get Free Report)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $54.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 25.38% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd.
Read Our Latest Research Report on MEG
Montrose Environmental Group Stock Down 0.5 %
Montrose Environmental Group (NYSE:MEG – Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. The company had revenue of $165.74 million for the quarter, compared to analysts’ expectations of $157.31 million. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. As a group, equities analysts forecast that Montrose Environmental Group will post -0.18 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Montrose Environmental Group
Several large investors have recently made changes to their positions in MEG. Benjamin F. Edwards & Company Inc. increased its stake in Montrose Environmental Group by 453.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock worth $53,000 after acquiring an additional 1,111 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of 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 buying an additional 1,971 shares in the last quarter. Quantbot Technologies LP purchased a new position in Montrose Environmental Group in the third quarter worth about $109,000. Cladis Investment Advisory LLC bought a new stake in Montrose Environmental Group during the fourth quarter worth approximately $209,000. Finally, Versor Investments LP bought a new stake in shares of Montrose Environmental Group in the 3rd quarter valued at approximately $214,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.
Montrose Environmental Group Company Profile
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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