Montrose Environmental Group (NYSE:MEG) Sets New 52-Week High at $46.45

Montrose Environmental Group, Inc. (NYSE:MEG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $46.45 and last traded at $46.36, with a volume of 181580 shares changing hands. The stock had previously closed at $44.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a report on Thursday, April 4th. JPMorgan Chase & Co. raised their target price on Montrose Environmental Group from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $51.00 price target (up previously from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd.

Montrose Environmental Group Stock Performance

The company’s 50-day moving average price is $40.22 and its 200 day moving average price is $33.53. The stock has a market capitalization of $1.44 billion, a PE ratio of -29.61 and a beta of 1.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.59 and a current ratio of 1.59.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $165.74 million during the quarter, compared to analyst estimates of $157.31 million. Montrose Environmental Group had a negative net margin of 4.94% and a negative return on equity of 5.64%. On average, equities research analysts expect that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montrose Environmental Group

Several hedge funds have recently made changes to their positions in MEG. Conestoga Capital Advisors LLC lifted its position in Montrose Environmental Group by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 41,700 shares of the company’s stock valued at $1,633,000 after buying an additional 400 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Montrose Environmental Group by 8.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,805 shares of the company’s stock worth $411,000 after buying an additional 972 shares in the last quarter. Swiss National Bank lifted its position in Montrose Environmental Group by 1.8% in the 3rd quarter. Swiss National Bank now owns 62,900 shares of the company’s stock valued at $1,840,000 after acquiring an additional 1,100 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Montrose Environmental Group by 453.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock valued at $53,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Montrose Environmental Group by 182.2% during the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock valued at $98,000 after acquiring an additional 1,971 shares during the period. 87.87% of the stock is currently 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.