Montrose Environmental Group, Inc. (NYSE:MEG) Receives $32.50 Consensus Price Target from Analysts

Montrose Environmental Group, Inc. (NYSE:MEG) has been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.50.

A number of analysts have recently commented on MEG shares. Wall Street Zen raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Needham & Company LLC restated a “buy” rating and issued a $31.00 price objective (up from $30.00) on shares of Montrose Environmental Group in a report on Friday, August 8th. Finally, Barclays initiated coverage on shares of Montrose Environmental Group in a report on Friday, September 19th. They issued an “overweight” rating and a $35.00 price objective on the stock.

Montrose Environmental Group Stock Down 0.9%

MEG stock opened at $27.90 on Friday. The stock has a market capitalization of $984.49 million, a P/E ratio of -18.47, a P/E/G ratio of 2.80 and a beta of 1.78. The firm has a 50-day simple moving average of $27.50 and a 200-day simple moving average of $21.53. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.60. Montrose Environmental Group has a 52 week low of $10.51 and a 52 week high of $32.00.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its holdings in shares of Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after purchasing an additional 1,600 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Montrose Environmental Group by 569.3% in the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company’s stock valued at $58,000 after purchasing an additional 3,484 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Montrose Environmental Group in the 1st quarter valued at $79,000. Finally, CWM LLC grew its position in shares of Montrose Environmental Group by 1,015.3% in the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock valued at $99,000 after buying an additional 4,102 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

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.