Montrose Environmental Group Inc (MEG) Shares Up Despite Recent Market Volatility

The stock of Montrose Environmental Group Inc (NYSE: MEG) has increased by 11.60 when compared to last closing price of 39.40.Despite this, the company has seen a gain of 16.63% in its stock price over the last five trading days. Seeking Alpha reported 2024-02-29 that Montrose Environmental Group, Inc. (NYSE:MEG) Q4 2023 Earnings Conference Call February 29, 2024 8:30 AM ET

Is It Worth Investing in Montrose Environmental Group Inc (NYSE: MEG) Right Now?

Additionally, the 36-month beta value for MEG is 2.00. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”

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The public float for MEG is 28.05M and currently, short sellers hold a 2.70% ratio of that float. The average trading volume of MEG on April 03, 2024 was 202.28K shares.

MEG’s Market Performance

MEG stock saw an increase of 16.63% in the past week, with a monthly gain of 15.65% and a quarterly increase of 36.85%. The volatility ratio for the week is 5.49%, and the volatility levels for the last 30 days are 4.39% for Montrose Environmental Group Inc (MEG). The simple moving average for the past 20 days is 14.96% for MEG’s stock, with a 29.57% simple moving average for the past 200 days.

Analysts’ Opinion of MEG

Many brokerage firms have already submitted their reports for MEG stocks, with Stifel repeating the rating for MEG by listing it as a “Buy.” The predicted price for MEG in the upcoming period, according to Stifel is $36 based on the research report published on February 05, 2024 of the current year 2024.

JP Morgan, on the other hand, stated in their research note that they expect to see MEG reach a price target of $41, previously predicting the price at $46. The rating they have provided for MEG stocks is “Overweight” according to the report published on November 09th, 2023.

JP Morgan gave a rating of “Neutral” to MEG, setting the target price at $39 in the report published on March 02nd of the previous year.

MEG Trading at 26.46% from the 50-Day Moving Average

After a stumble in the market that brought MEG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.33% of loss for the given period.

Volatility was left at 4.39%, however, over the last 30 days, the volatility rate increased by 5.49%, as shares surge +16.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +55.59% upper at present.

During the last 5 trading sessions, MEG rose by +16.63%, which changed the moving average for the period of 200-days by +1.24% in comparison to the 20-day moving average, which settled at $38.56. In addition, Montrose Environmental Group Inc saw 36.85% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MEG starting from Dicks Allan, who purchase 2,000 shares at the price of $25.68 back on Nov 10 ’23. After this action, Dicks Allan now owns 264,124 shares of Montrose Environmental Group Inc, valued at $51,370 using the latest closing price.

Field Janet Risi, the Director of Montrose Environmental Group Inc, purchase 500 shares at $25.25 during a trade that took place back on Nov 10 ’23, which means that Field Janet Risi is holding 14,506 shares at $12,628 based on the most recent closing price.

Stock Fundamentals for MEG

Current profitability levels for the company are sitting at:

  • -0.05 for the present operating margin
  • 0.38 for the gross margin

The net margin for Montrose Environmental Group Inc stands at -0.05. The total capital return value is set at -0.04. Equity return is now at value -6.56, with -3.71 for asset returns.

Based on Montrose Environmental Group Inc (MEG), the company’s capital structure generated 0.31 points at debt to capital in total, while cash flow to debt ratio is standing at 0.27. The debt to equity ratio resting at 0.44. The interest coverage ratio of the stock is -3.93.

Currently, EBITDA for the company is 32.01 million with net debt to EBITDA at 5.84. When we switch over and look at the enterprise to sales, we see a ratio of 2.44. The receivables turnover for the company is 3.81for trailing twelve months and the total asset turnover is 0.76. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.59.

Conclusion

In conclusion, Montrose Environmental Group Inc (MEG) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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