While Montrose Environmental Group Inc has overperformed by 5.15%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MEG fell by -9.69%, with highs and lows ranging from $49.97 to $19.59, whereas the simple moving average fell by -35.05% in the last 200 days.
On August 14, 2024, Evercore ISI started tracking Montrose Environmental Group Inc (NYSE: MEG) recommending Outperform. JP Morgan also Upgraded MEG shares as ‘Overweight’, setting a target price of $41 on the company’s shares in a report dated November 09, 2023. BofA Securities December 12, 2022d its ‘Neutral’ rating to ‘Buy’ for MEG, as published in its report on December 12, 2022. JP Morgan’s report from May 12, 2022 suggests a price prediction of $47 for MEG shares, giving the stock a ‘Overweight’ rating. JP Morgan also rated the stock as ‘Neutral’.
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Analysis of Montrose Environmental Group Inc (MEG)
Further, the quarter-over-quarter increase in sales is 8.94%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Montrose Environmental Group Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -6.45% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.82, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 565.95K can be a very valuable indicator of volatility for MEG stock. On a monthly basis, the volatility of the stock is set at 6.17%, whereas on a weekly basis, it is put at 6.43%, with a gain of 11.12% over the past seven days. Furthermore, long-term investors anticipate a median target price of $49.50, showing growth from the present price of $23.48, which can serve as yet another indication of whether MEG is worth investing in or should be passed over.
How Do You Analyze Montrose Environmental Group Inc Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 9.17%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 97.45% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
MEG shares are owned by institutional investors to the tune of 97.45% at present.
