Analysts Set Montrose Environmental Group, Inc. (NYSE:MEG) Price Target at $34.40

Montrose Environmental Group, Inc. (NYSE:MEG) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $34.40.

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Zacks Research lowered shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Wall Street Zen raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC raised their target price on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th.

Montrose Environmental Group Stock Up 3.5%

Shares of NYSE:MEG opened at $25.13 on Monday. The stock has a market capitalization of $888.09 million, a P/E ratio of -27.62, a price-to-earnings-growth ratio of 2.70 and a beta of 1.84. The stock’s 50-day moving average price is $27.38 and its 200-day moving average price is $24.65. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70. Montrose Environmental Group has a 12-month low of $10.51 and a 12-month high of $32.00.

Montrose Environmental Group (NYSE:MEG) last issued its earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a positive return on equity of 0.17% and a negative net margin of 2.52%. Montrose Environmental Group has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Montrose Environmental Group will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total transaction of $1,082,764.88. Following the transaction, the chief executive officer directly owned 316,637 shares of the company’s stock, valued at approximately $7,621,452.59. The trade was a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Montrose Environmental Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Montrose Environmental Group by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock valued at $33,913,000 after acquiring an additional 97,035 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of Montrose Environmental Group by 44.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 656,814 shares of the company’s stock worth $14,378,000 after purchasing an additional 202,541 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Montrose Environmental Group in the 1st quarter worth approximately $627,000. Atria Investments Inc bought a new position in Montrose Environmental Group during the 2nd quarter valued at approximately $266,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Montrose Environmental Group during the 2nd quarter valued at approximately $690,000. Hedge funds and other 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.