Shares of Montrose Environmental Group, Inc. (NYSE:MEG – Get Free Report) traded down 4% on Tuesday . The company traded as low as $32.98 and last traded at $32.99. 55,722 shares were traded during trading, a decline of 82% from the average session volume of 310,485 shares. The stock had previously closed at $34.36.
Wall Street Analysts Forecast Growth
MEG has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a research note on Thursday, August 8th. Evercore ISI began coverage on shares of Montrose Environmental Group in a research report on Wednesday, August 14th. They set an “outperform” rating and a $43.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $45.60.
Montrose Environmental Group Stock Performance
The firm has a 50 day moving average price of $36.21 and a 200 day moving average price of $39.74. The stock has a market cap of $1.11 billion, a PE ratio of -22.09 and a beta of 1.88. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.98.
Montrose Environmental Group (NYSE:MEG – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.15). Montrose Environmental Group had a negative net margin of 4.55% and a negative return on equity of 1.78%. The firm had revenue of $173.33 million during the quarter, compared to analyst estimates of $174.59 million. As a group, research analysts forecast that Montrose Environmental Group, Inc. will post 0.17 earnings per share for the current year.
Institutional Investors Weigh In On Montrose Environmental Group
Large investors have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC lifted its holdings in Montrose Environmental Group by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 41,700 shares of the company’s stock valued at $1,633,000 after acquiring an additional 400 shares during the period. Sei Investments Co. increased its stake in Montrose Environmental Group by 1.0% during the first quarter. Sei Investments Co. now owns 49,339 shares of the company’s stock worth $1,933,000 after acquiring an additional 485 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after acquiring an additional 504 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Montrose Environmental Group by 43.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock worth $86,000 after acquiring an additional 586 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Montrose Environmental Group by 10.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company’s stock valued at $514,000 after buying an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.
About Montrose Environmental Group
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.