Montrose Environmental Group, Inc. (NYSE:MEG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Montrose Environmental Group, Inc. (NYSE:MEGGet Rating) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $47.33.

A number of research firms recently commented on MEG. Morgan Stanley decreased their price target on Montrose Environmental Group from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 14th. Bank of America upgraded Montrose Environmental Group from a “neutral” rating to a “buy” rating in a research note on Monday, December 12th. Finally, Needham & Company LLC decreased their price target on Montrose Environmental Group from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, November 14th.

Montrose Environmental Group Stock Up 4.8 %

Shares of NYSE MEG opened at $52.44 on Friday. Montrose Environmental Group has a 1 year low of $28.36 and a 1 year high of $59.48. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -40.03 and a beta of 1.64. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.38 and a current ratio of 2.38. The stock’s 50-day simple moving average is $45.18 and its 200-day simple moving average is $41.30.

Montrose Environmental Group (NYSE:MEGGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.13). The firm had revenue of $130.31 million during the quarter, compared to analyst estimates of $141.46 million. Montrose Environmental Group had a negative return on equity of 6.42% and a negative net margin of 4.10%. As a group, equities analysts anticipate that Montrose Environmental Group will post -1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Montrose Environmental Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MEG. Capital Research Global Investors boosted its position in shares of Montrose Environmental Group by 23.8% during the first quarter. Capital Research Global Investors now owns 2,699,774 shares of the company’s stock worth $142,899,000 after buying an additional 519,892 shares during the period. BlackRock Inc. boosted its position in shares of Montrose Environmental Group by 0.5% during the first quarter. BlackRock Inc. now owns 2,056,565 shares of the company’s stock worth $108,853,000 after buying an additional 10,718 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Montrose Environmental Group by 7.8% during the second quarter. UBS Asset Management Americas Inc. now owns 1,848,185 shares of the company’s stock worth $62,395,000 after buying an additional 133,871 shares during the period. Vanguard Group Inc. boosted its position in shares of Montrose Environmental Group by 1.6% during the third quarter. Vanguard Group Inc. now owns 1,338,244 shares of the company’s stock worth $45,032,000 after buying an additional 20,974 shares during the period. Finally, Truist Financial Corp boosted its position in shares of Montrose Environmental Group by 2.9% during the second quarter. Truist Financial Corp now owns 1,217,600 shares of the company’s stock worth $41,106,000 after buying an additional 34,061 shares during the period. 90.89% of the stock is currently owned by institutional investors and hedge funds.

About Montrose Environmental Group

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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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Analyst Recommendations for Montrose Environmental Group (NYSE:MEG)

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