Brokerages Set Montrose Environmental Group, Inc. (NYSE:MEG) PT at $34.67

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

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Needham & Company LLC increased their price objective on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th.

Insider Activity at Montrose Environmental Group

In related news, insider Jose Revuelta sold 7,858 shares of Montrose Environmental Group stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $27.00, for a total value of $212,166.00. Following the completion of the transaction, the insider directly owned 269,282 shares in the company, valued at approximately $7,270,614. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Nasym Afsari sold 43,348 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.37, for a total value of $1,229,782.76. Following the completion of the sale, the general counsel directly owned 204,878 shares of the company’s stock, valued at approximately $5,812,388.86. This represents a 17.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 107,527 shares of company stock worth $2,908,583. Company insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MEG. Lisanti Capital Growth LLC bought a new position in Montrose Environmental Group during the third quarter worth $2,803,000. Peregrine Capital Management LLC boosted its holdings in Montrose Environmental Group by 16.6% in the third quarter. Peregrine Capital Management LLC now owns 283,899 shares of the company’s stock worth $7,796,000 after purchasing an additional 40,393 shares during the period. Fisher Asset Management LLC increased its stake in Montrose Environmental Group by 18.0% during the third quarter. Fisher Asset Management LLC now owns 257,872 shares of the company’s stock valued at $7,081,000 after purchasing an additional 39,331 shares during the last quarter. Franklin Resources Inc. bought a new stake in Montrose Environmental Group during the second quarter valued at $502,000. Finally, Legal & General Group Plc raised its holdings in shares of Montrose Environmental Group by 12.9% during the second quarter. Legal & General Group Plc now owns 904,154 shares of the company’s stock worth $19,792,000 after purchasing an additional 103,460 shares during the period. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock opened at $22.50 on Friday. Montrose Environmental Group has a 12-month low of $10.51 and a 12-month high of $32.00. The company has a market capitalization of $809.69 million, a price-to-earnings ratio of -93.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.92. 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 firm’s fifty day moving average price is $23.83 and its 200 day moving average price is $25.74.

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