Barclays Boosts Montrose Environmental Group (NYSE:MEG) Price Target to $36.00

Montrose Environmental Group (NYSE:MEG) had its price objective upped by equities researchers at Barclays from $35.00 to $36.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 38.72% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Wall Street Zen upgraded Montrose Environmental Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Needham & Company LLC lifted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Zacks Research downgraded shares of Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.40.

Montrose Environmental Group Trading Up 2.9%

Shares of MEG stock opened at $25.95 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.66 and a debt-to-equity ratio of 0.70. Montrose Environmental Group has a fifty-two week low of $10.51 and a fifty-two week high of $32.00. The firm’s 50 day moving average price is $28.20 and its two-hundred day moving average price is $24.13. The stock has a market cap of $917.06 million, a price-to-earnings ratio of -28.52, a price-to-earnings-growth ratio of 2.90 and a beta of 1.84.

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

Institutional Trading of Montrose Environmental Group

Several large investors have recently modified their holdings of MEG. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Montrose Environmental Group during the first quarter valued at about $627,000. Lane Generational LLC grew its holdings in shares of Montrose Environmental Group by 27.2% during the first quarter. Lane Generational LLC now owns 61,779 shares of the company’s stock worth $881,000 after purchasing an additional 13,213 shares during the last quarter. Royce & Associates LP increased its position in Montrose Environmental Group by 167.5% in the 1st quarter. Royce & Associates LP now owns 852,849 shares of the company’s stock valued at $12,162,000 after acquiring an additional 533,986 shares in the last quarter. Summit Creek Advisors LLC lifted its holdings in Montrose Environmental Group by 1.2% during the 1st quarter. Summit Creek Advisors LLC now owns 584,514 shares of the company’s stock worth $8,335,000 after buying an additional 6,840 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Montrose Environmental Group by 55.0% during the 1st quarter. Federated Hermes Inc. now owns 24,800 shares of the company’s stock worth $354,000 after purchasing an additional 8,800 shares during the last quarter. 87.87% of the stock is 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.