Montrose Environmental Group, Inc. (NYSE:MEG) Given Average Recommendation of “Hold” by Brokerages

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have earned a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.50.

Several research analysts recently commented on MEG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Saturday, September 27th. Needham & Company LLC reaffirmed 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. Barclays started 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 for the company. Finally, Wall Street Zen raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in Montrose Environmental Group by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock valued at $261,000 after purchasing an additional 488 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Montrose Environmental Group by 2.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock valued at $497,000 after purchasing an additional 515 shares during the period. Horrell Capital Management Inc. boosted its holdings in Montrose Environmental Group by 2.2% in the 2nd quarter. Horrell Capital Management Inc. now owns 27,427 shares of the company’s stock valued at $600,000 after purchasing an additional 597 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Montrose Environmental Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,096 shares of the company’s stock valued at $336,000 after purchasing an additional 636 shares during the period. Finally, AlphaQuest LLC boosted its holdings in Montrose Environmental Group by 17.4% in the 2nd quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock valued at $105,000 after purchasing an additional 713 shares during the period. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Stock Up 1.6%

MEG opened at $28.39 on Friday. The company has a 50 day moving average of $27.60 and a 200 day moving average of $21.67. The company has a market cap of $1.00 billion, a PE ratio of -18.80, a price-to-earnings-growth ratio of 2.82 and a beta of 1.78. Montrose Environmental Group has a 12 month low of $10.51 and a 12 month high of $32.00. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.60.

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.