Montrose Environmental Group (NYSE:MEG) Shares Down 6.7% – Here’s What Happened

Montrose Environmental Group, Inc. (NYSE:MEG) fell 6.7% during trading on Monday . The company traded as low as $24.32 and last traded at $24.19. 63,811 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 470,557 shares. The stock had previously closed at $25.92.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MEG shares. Barclays increased their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Needham & Company LLC increased their price objective on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Zacks Research downgraded shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.40.

Montrose Environmental Group Stock Down 4.5%

The company’s fifty day simple moving average is $28.20 and its 200-day simple moving average is $24.19. The firm has a market capitalization of $874.56 million, a PE ratio of -27.19, a price-to-earnings-growth ratio of 2.76 and a beta of 1.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66.

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

Institutional Trading of Montrose Environmental Group

Large investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 purchasing an additional 97,035 shares during the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of Montrose Environmental Group by 44.6% during the second 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Montrose Environmental Group in the first quarter valued at approximately $627,000. Dynamic Technology Lab Private Ltd acquired a new position in Montrose Environmental Group in the 1st quarter worth approximately $690,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Montrose Environmental Group in the 2nd quarter worth approximately $690,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

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.