Montrose Environmental Group, Inc. (NYSE:MEG) Receives $42.83 Consensus PT from Analysts

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $39.20.

Several research analysts recently commented on the company. Needham & Company LLC reduced their price target on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a research report on Friday. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research report on Thursday, October 17th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday. Finally, Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $52.00 to $29.00 in a research note on Wednesday.

Montrose Environmental Group Price Performance

MEG stock opened at $20.51 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $26.70 and a 200-day moving average of $35.58. Montrose Environmental Group has a fifty-two week low of $19.59 and a fifty-two week high of $49.97.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.15). Montrose Environmental Group had a positive return on equity of 1.97% and a negative net margin of 5.28%. The firm had revenue of $173.33 million for the quarter, compared to analyst estimates of $174.59 million. On average, equities analysts anticipate that Montrose Environmental Group will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Montrose Environmental Group

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter valued at $1,095,000. Ghisallo Capital Management LLC acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter valued at $3,119,000. Moody National Bank Trust Division acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter valued at $1,159,000. Lord Abbett & CO. LLC acquired a new stake in shares of Montrose Environmental Group in the 1st quarter valued at $1,461,000. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Montrose Environmental Group by 253.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock valued at $51,210,000 after purchasing an additional 823,636 shares in 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.