Montrose Environmental Group (NYSE:MEG) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Montrose Environmental Group (NYSE:MEG) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $43.00 price target on the stock.

Separately, Needham & Company LLC reiterated a buy rating and set a $54.00 target price on shares of Montrose Environmental Group in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $45.60.

Montrose Environmental Group Trading Up 1.5 %

Shares of MEG opened at $32.97 on Wednesday. The stock has a market capitalization of $1.12 billion, a P/E ratio of -22.28 and a beta of 1.88. Montrose Environmental Group has a twelve month low of $21.96 and a twelve month high of $49.97. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $38.11 and a two-hundred day simple moving average of $39.61.

Institutional Investors Weigh In On Montrose Environmental Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Conestoga Capital Advisors LLC raised its stake in Montrose Environmental Group by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 41,700 shares of the company’s stock worth $1,633,000 after buying an additional 400 shares in the last quarter. Sei Investments Co. raised its position in shares of Montrose Environmental Group by 1.0% in the 1st quarter. Sei Investments Co. now owns 49,339 shares of the company’s stock worth $1,933,000 after acquiring an additional 485 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after purchasing an additional 504 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Montrose Environmental Group by 43.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Montrose Environmental Group by 8.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,805 shares of the company’s stock valued at $411,000 after purchasing an additional 972 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Company Profile

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.