Montrose Environmental Group (NYSE:MEG) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Montrose Environmental Group (NYSE:MEG) from a buy rating to a hold rating in a report published on Saturday.

Several other research firms also recently commented on MEG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Barclays boosted their price target on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Needham & Company LLC raised their price objective on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Zacks Research cut shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Four 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $34.40.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $25.22 on Friday. The business’s 50 day simple moving average is $27.18 and its 200 day simple moving average is $24.79. Montrose Environmental Group has a 12 month low of $10.51 and a 12 month high of $32.00. The company has a market cap of $891.38 million, a price-to-earnings ratio of -27.72, a PEG ratio of 2.80 and a beta of 1.84. 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 (NYSE:MEG) last released its earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) 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 business had revenue of $224.89 million during the quarter, compared to the consensus estimate of $201.46 million. Montrose Environmental Group has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Montrose Environmental Group will post 0.13 EPS for the current year.

Insider Activity 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 shares were sold at an average price of $24.07, for a total value of $1,082,764.88. Following the completion of the sale, the chief executive officer directly owned 316,637 shares in the company, valued at approximately $7,621,452.59. The trade was a 12.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Montrose Environmental Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bamco Inc. NY lifted its stake in Montrose Environmental Group by 2.5% in the second quarter. Bamco Inc. NY now owns 2,764,395 shares of the company’s stock worth $60,513,000 after purchasing an additional 68,713 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Montrose Environmental Group by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock worth $33,913,000 after buying an additional 97,035 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Montrose Environmental Group by 21.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,317,660 shares of the company’s stock valued at $50,734,000 after acquiring an additional 414,272 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Montrose Environmental Group by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,929,183 shares of the company’s stock valued at $52,975,000 after acquiring an additional 49,652 shares during the period. Finally, Millennium Management LLC grew its position in Montrose Environmental Group by 4.4% during the 1st quarter. Millennium Management LLC now owns 1,504,541 shares of the company’s stock worth $21,455,000 after acquiring an additional 62,826 shares during the last quarter. 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.