Montrose Environmental Group, Inc. (NYSE:MEG – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $41.95, but opened at $40.44. Montrose Environmental Group shares last traded at $37.10, with a volume of 398,638 shares changing hands.
Analyst Ratings Changes
A number of brokerages have recently commented on MEG. Stifel Nicolaus reiterated a “buy” rating and issued a $51.00 price target (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price objective on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a report on Thursday, April 4th.
Read Our Latest Analysis on Montrose Environmental Group
Montrose Environmental Group Stock Performance
Montrose Environmental Group (NYSE:MEG – Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. The firm had revenue of $165.74 million during the quarter, compared to the consensus estimate of $157.31 million. Analysts forecast that Montrose Environmental Group, Inc. will post -0.16 earnings per share for the current fiscal year.
Institutional Trading of Montrose Environmental Group
A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Montrose Environmental Group by 141.2% during the 1st quarter. JPMorgan Chase & Co. now owns 47,483 shares of the company’s stock worth $2,513,000 after purchasing an additional 27,800 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Montrose Environmental Group during the 1st quarter worth about $311,000. Natixis Advisors L.P. bought a new position in shares of Montrose Environmental Group during the 1st quarter worth about $793,000. MetLife Investment Management LLC boosted its position in shares of Montrose Environmental Group by 53.1% during the 1st quarter. MetLife Investment Management LLC now owns 13,829 shares of the company’s stock worth $732,000 after purchasing an additional 4,796 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Montrose Environmental Group by 9.9% during the 1st quarter. Rhumbline Advisers now owns 27,040 shares of the company’s stock worth $1,431,000 after purchasing an additional 2,447 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
- Five stocks we like better than Montrose Environmental Group
- Using the MarketBeat Dividend Yield Calculator
- United Airlines Soars on Earnings Beat
- Dividend Capture Strategy: What You Need to Know
- J.B. Hunt Hits the Skids: Lower Prices to Come
- 3 Warren Buffett Stocks to Buy Now
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for Montrose Environmental Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Montrose Environmental Group and related companies with MarketBeat.com's FREE daily email newsletter.