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

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $33.1667.

A number of analysts recently issued reports on MEG shares. Zacks Research downgraded Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Needham & Company LLC reissued a “buy” rating and set a $31.00 price target (up previously from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. Barclays began coverage on Montrose Environmental Group in a research report on Friday, September 19th. They set an “overweight” rating and a $35.00 price target on the stock. Wall Street Zen raised Montrose Environmental Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in shares of Montrose Environmental Group by 156.8% during the first quarter. Janney Montgomery Scott LLC now owns 44,608 shares of the company’s stock worth $636,000 after acquiring an additional 27,237 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Montrose Environmental Group by 23.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,023 shares of the company’s stock worth $271,000 after acquiring an additional 3,598 shares during the period. Peregrine Capital Management LLC boosted its holdings in shares of Montrose Environmental Group by 3.5% during the first quarter. Peregrine Capital Management LLC now owns 239,434 shares of the company’s stock worth $3,414,000 after acquiring an additional 8,041 shares during the period. Holcombe Financial Inc. boosted its holdings in shares of Montrose Environmental Group by 45.3% during the first quarter. Holcombe Financial Inc. now owns 47,651 shares of the company’s stock worth $680,000 after acquiring an additional 14,866 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Montrose Environmental Group during the first quarter worth approximately $627,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

NYSE:MEG opened at $26.53 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.78 and a current ratio of 1.78. The stock’s 50-day simple moving average is $28.78 and its 200 day simple moving average is $23.58. The company has a market cap of $936.31 million, a P/E ratio of -17.57, a P/E/G ratio of 3.03 and a beta of 1.78. Montrose Environmental Group has a 52-week low of $10.51 and a 52-week high of $32.00.

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.