Needham & Company LLC reiterated their buy rating on shares of Montrose Environmental Group (NYSE:MEG - Free Report) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $54.00 target price on the stock.
A number of other analysts have also issued reports on MEG. Stifel Nicolaus reiterated a buy rating and set a $51.00 price objective (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an overweight rating in a research note on Friday, March 1st.
Check Out Our Latest Stock Report on Montrose Environmental Group
Montrose Environmental Group Stock Performance
Shares of NYSE:MEG traded down $0.22 during midday trading on Thursday, reaching $43.05. 405,178 shares of the company traded hands, compared to its average volume of 259,413. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.50. Montrose Environmental Group has a 12 month low of $21.96 and a 12 month high of $47.94. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -27.25 and a beta of 1.91. The firm's fifty day moving average price is $41.05 and its two-hundred day moving average price is $33.95.
Montrose Environmental Group (NYSE:MEG - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.08. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. The company had revenue of $165.74 million for the quarter, compared to analyst estimates of $157.31 million. On average, equities analysts expect that Montrose Environmental Group will post -0.18 earnings per share for the current year.
Insiders Place Their Bets
In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 12,500 shares of the company's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $46.51, for a total value of $581,375.00. Following the transaction, the chief executive officer now directly owns 316,637 shares in the company, valued at approximately $14,726,786.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.90% of the company's stock.
Hedge Funds Weigh In On Montrose Environmental Group
Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of 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 purchasing an additional 1,111 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Montrose Environmental Group by 182.2% in the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company's stock worth $98,000 after purchasing an additional 1,971 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Montrose Environmental Group in the 3rd quarter worth about $109,000. Mainsail Asset Management LLC purchased a new position in shares of Montrose Environmental Group in the 1st quarter worth about $217,000. Finally, Cladis Investment Advisory LLC purchased a new stake in Montrose Environmental Group during the 4th quarter valued at about $209,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.
About Montrose Environmental Group
(
Get Free Report)
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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