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

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) have received a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $33.6667.

A number of equities research analysts have issued reports on MEG shares. Needham & Company LLC lifted their target price on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Barclays lifted their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Wall Street Zen downgraded Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th.

Hedge Funds Weigh In On Montrose Environmental Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MEG. Advisory Services Network LLC bought a new position in shares of Montrose Environmental Group during the 3rd quarter valued at $32,000. Canada Pension Plan Investment Board lifted its position in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after acquiring an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Montrose Environmental Group in the fourth quarter valued at about $75,000. Finally, Assetmark Inc. bought a new position in shares of Montrose Environmental Group in the fourth quarter worth about $84,000. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

MEG stock opened at $22.62 on Wednesday. The firm has a 50 day simple moving average of $23.94 and a 200 day simple moving average of $26.22. Montrose Environmental Group has a 52 week low of $10.51 and a 52 week high of $32.00. The stock has a market cap of $799.32 million, a P/E ratio of -24.85, a P/E/G ratio of 1.57 and a beta of 2.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66.

Montrose Environmental Group Company Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.