Shares of Montrose Environmental Group, Inc. (NYSE:MEG – Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $46.45 and last traded at $46.36, with a volume of 181580 shares. The stock had previously closed at $44.51.
Analysts Set New Price Targets
Several equities analysts recently commented on MEG shares. Stifel Nicolaus restated a “buy” rating and set a $51.00 target price (up previously from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd. 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 report on Friday, March 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a report on Thursday, April 4th.
Get Our Latest Analysis on MEG
Montrose Environmental Group Price Performance
Montrose Environmental Group (NYSE:MEG – Get Free Report) last announced 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 for 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%. As a group, sell-side analysts forecast that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. grew 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 worth $53,000 after purchasing an additional 1,111 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of 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 buying an additional 1,971 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Montrose Environmental Group during the 3rd quarter worth $109,000. Cladis Investment Advisory LLC purchased a new position in Montrose Environmental Group in the fourth quarter worth $209,000. Finally, Versor Investments LP purchased a new stake in Montrose Environmental Group during the third quarter valued at about $214,000. 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.
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