Montrose Environmental Group (NYSE:MEG) Stock Price Down 3.3%

Montrose Environmental Group, Inc. (NYSE:MEG)’s share price fell 3.3% on Friday . The stock traded as low as $57.52 and last traded at $57.52. 17 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 219,438 shares. The stock had previously closed at $59.47.

Several equities research analysts have recently commented on MEG shares. National Bank Financial upped their target price on Montrose Environmental Group from C$15.00 to C$18.50 in a report on Thursday, January 6th. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Wednesday, December 8th. Zacks Investment Research lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 5th. Needham & Company LLC increased their target price on Montrose Environmental Group from $68.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. Finally, The Goldman Sachs Group raised their price objective on Montrose Environmental Group from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Montrose Environmental Group currently has a consensus rating of “Hold” and a consensus target price of $56.06.

The company has a 50 day moving average price of $70.44 and a 200 day moving average price of $60.23. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.21.

Montrose Environmental Group (NYSE:MEG) last released its earnings results on Tuesday, November 9th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). The firm had revenue of $132.58 million during the quarter, compared to analyst estimates of $120.31 million. Montrose Environmental Group had a negative net margin of 4.51% and a positive return on equity of 7.31%. Sell-side analysts predict that Montrose Environmental Group, Inc. will post 0.37 earnings per share for the current fiscal year.

In related news, Director Janet Risi Field acquired 7,275 shares of the firm’s stock in a transaction that occurred on Monday, December 13th. The stock was acquired at an average cost of $68.71 per share, with a total value of $499,865.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vijay Manthripragada sold 1,913 shares of Montrose Environmental Group stock in a transaction on Thursday, October 28th. The stock was sold at an average price of $67.51, for a total value of $129,146.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,768 shares of company stock valued at $13,610,565. 16.92% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Atticus Wealth Management LLC bought a new position in Montrose Environmental Group during the third quarter worth about $43,000. Royal Bank of Canada lifted its holdings in Montrose Environmental Group by 53.5% during the third quarter. Royal Bank of Canada now owns 2,891 shares of the company’s stock worth $178,000 after acquiring an additional 1,007 shares in the last quarter. Tortoise Index Solutions LLC lifted its holdings in Montrose Environmental Group by 22.6% during the third quarter. Tortoise Index Solutions LLC now owns 2,949 shares of the company’s stock worth $182,000 after acquiring an additional 544 shares in the last quarter. Citigroup Inc. lifted its holdings in Montrose Environmental Group by 79.8% during the third quarter. Citigroup Inc. now owns 3,086 shares of the company’s stock worth $191,000 after acquiring an additional 1,370 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Montrose Environmental Group by 13.0% during the second quarter. Legal & General Group Plc now owns 3,244 shares of the company’s stock worth $174,000 after acquiring an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Montrose Environmental Group Company Profile (NYSE:MEG)

Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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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