Stifel slashes price target on Montrose Environmental Group Inc. [MEG] – find out why.

Montrose Environmental Group Inc. [NYSE: MEG] traded at a high on 11/25/20, posting a 6.36 gain after which it closed the day’ session at $29.58. The company report on November 25, 2020 that Montrose Environmental Group Announces Pricing of Secondary Offering.

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(November 24, 2020) – Montrose Environmental Group, Inc. (the “Company” or “Montrose”) (NYSE: MEG) announced the pricing of the previously announced underwritten secondary offering by certain of the Company’s stockholders, including funds managed by Oaktree Capital Management, L.P. (the “Selling Stockholders”), of 4,920,052 shares of the Company’s common stock, at a price of $27.25 per share (before underwriting discounts and commissions). The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 738,012 shares of common stock. The Selling Stockholders will receive all of the proceeds from the offering. Montrose is not offering any shares of its common stock in the offering and will not receive any proceeds from the offering. The offering is expected to close on November 30, 2020, subject to the satisfaction of customary closing conditions.

BofA Securities and William Blair are acting as joint leading book-running managers and representatives of the underwriters for the offering. J.P. Morgan and Morgan Stanley are acting as joint book-running managers. Stifel, Needham & Company, BNP PARIBAS and Capital One Securities are also acting as joint book-running managers for the offering.

The results of the trading session contributed to over 2150123 shares changing hands. Over the past one week, the price volatility of Montrose Environmental Group Inc. stands at 8.27% while the volatility over the past one month is 6.79%.

The market cap for MEG stock reached $759.32 million, with 21.55 million shares outstanding and 19.44 million shares in the current float. Compared to the average trading volume of 174.24K shares, MEG reached a trading volume of 2150123 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Montrose Environmental Group Inc. [MEG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MEG shares is $33.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MEG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Montrose Environmental Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 17, 2020. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on August 17, 2020, representing the official price target for Montrose Environmental Group Inc. stock. Previously, the target price had yet another raise to $25, while Exane BNP Paribas analysts kept a Neutral rating on MEG stock.

The Average True Range (ATR) for Montrose Environmental Group Inc. is set at 2.08, with the Price to Sales ratio for MEG stock in the period of the last 12 months amounting to 2.64. The Price to Book ratio for the last quarter was 4.59, with the Price to Cash per share for the same quarter was set at 1.50.

How has MEG stock performed recently?

Montrose Environmental Group Inc. [MEG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.96.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MEG stock in for the last two-week period is set at 50.13, with the RSI for the last a single of trading hit 46.33, and the three-weeks RSI is set at 52.01 for Montrose Environmental Group Inc. [MEG]. The present Moving Average for the last 50 days of trading for this stock 26.95, while it was recorded at 31.12 for the last single week of trading.

Montrose Environmental Group Inc. [MEG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Montrose Environmental Group Inc. [MEG] shares currently have an operating margin of -0.51 and a Gross Margin at +18.03. Montrose Environmental Group Inc.’s Net Margin is presently recorded at -10.07.

Return on Total Capital for MEG is now -0.54, given the latest momentum, and Return on Invested Capital for the company is -10.84. Return on Equity for this stock declined to -21.54, with Return on Assets sitting at -8.14. When it comes to the capital structure of this company, Montrose Environmental Group Inc. [MEG] has a Total Debt to Total Equity ratio set at 148.43. Additionally, MEG Total Debt to Total Capital is recorded at 59.75, with Total Debt to Total Assets ending up at 44.99.

Reflecting on the efficiency of the workforce at the company, Montrose Environmental Group Inc. [MEG] managed to generate an average of -$13,617 per employee. Receivables Turnover for the company is 4.27 with a Total Asset Turnover recorded at a value of 0.81.Montrose Environmental Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Insider trade positions for Montrose Environmental Group Inc. [MEG]

There are presently around $441 million, or 60.60% of MEG stock, in the hands of institutional investors. The top three institutional holders of MEG stocks are: OAKTREE CAPITAL MANAGEMENT LP with ownership of 4,322,644, which is approximately New of the company’s market cap and around 15.80% of the total institutional ownership; FMR LLC, holding 1,210,353 shares of the stock with an approximate value of $35.8 million in MEG stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $28.98 million in MEG stock with ownership of nearly New of the company’s market capitalization.

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Positions in Montrose Environmental Group Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 68 institutional holders increased their position in Montrose Environmental Group Inc. [NYSE:MEG] by around 14,922,343 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 14,922,343 shares, according to the latest SEC report filing. MEG stock had 68 new institutional investments in for a total of 14,922,343 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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