Montrose Environmental Group (NYSE:MEG) Price Target Raised to $36.00

Montrose Environmental Group (NYSE:MEG) had its price objective boosted by Barclays from $35.00 to $36.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on MEG. Zacks Research lowered shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Needham & Company LLC upped their price target on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Montrose Environmental Group has a consensus rating of “Hold” and a consensus price target of $34.40.

Montrose Environmental Group Stock Down 4.9%

Shares of Montrose Environmental Group stock traded down $1.26 during midday trading on Friday, reaching $24.66. 154,159 shares of the company’s stock traded hands, compared to its average volume of 471,038. The company’s 50 day simple moving average is $28.20 and its 200 day simple moving average is $24.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66. Montrose Environmental Group has a 52 week low of $10.51 and a 52 week high of $32.00. The company has a market cap of $871.48 million, a price-to-earnings ratio of -27.10, a price-to-earnings-growth ratio of 2.76 and a beta of 1.84.

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

Institutional Investors Weigh In On Montrose Environmental Group

Several hedge funds and other institutional investors have recently bought and sold shares of MEG. Canada Pension Plan Investment Board raised its position in shares of Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after purchasing an additional 1,600 shares during the period. AlphaQuest LLC increased its holdings in Montrose Environmental Group by 569.3% in the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company’s stock worth $58,000 after acquiring an additional 3,484 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Montrose Environmental Group by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after acquiring an additional 1,508 shares during the period. Brooklyn Investment Group purchased a new stake in Montrose Environmental Group in the 1st quarter worth approximately $79,000. Finally, CWM LLC increased its position in shares of Montrose Environmental Group by 1,015.3% in the second quarter. CWM LLC now owns 4,506 shares of the company’s stock worth $99,000 after purchasing an additional 4,102 shares during the last quarter. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Company Profile

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.