Montrose Environmental Group, Inc. (NYSE:MEG) Receives Average Rating of "Hold" from Analysts

Key Points

• Montrose Environmental Group, Inc. (NYSE:MEG) has a consensus recommendation of "Hold" from analysts, with one sell rating, three hold ratings, and four buy ratings issued by research firms covering the stock.
• JPMorgan Chase recently raised their price target for Montrose Environmental Group from $26 to $33, while Weiss Ratings downgraded the stock's rating to "sell (d-)", reflecting a range of opinions among analysts.
• Institutional investors hold 87.87% of Montrose Environmental Group’s stock, with notable stakes recently acquired by firms such as CWM LLC and Harbor Capital Advisors Inc.

Shares of Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) have been given a consensus recommendation of "Hold" by the eight research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $33.1667.

A number of equities research analysts have recently issued reports on MEG shares. JPMorgan Chase & Co. boosted their price target on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, October 14th. 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Needham & Company LLC reissued a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of Montrose Environmental Group in a research note on Friday, August 8th. Finally, Zacks Research downgraded shares of Montrose Environmental Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 17th.

Institutional Investors Weigh In On Montrose Environmental Group

Several large investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in Montrose Environmental Group by 70.1% during the 3rd quarter. CWM LLC now owns 7,665 shares of the company's stock worth $210,000 after buying an additional 3,159 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Montrose Environmental Group during the 3rd quarter worth approximately $456,000. MASTERINVEST Kapitalanlage GmbH purchased a new stake in Montrose Environmental Group during the 2nd quarter worth approximately $705,000. Caxton Associates LLP purchased a new stake in Montrose Environmental Group during the 2nd quarter worth approximately $597,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Montrose Environmental Group by 2.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company's stock worth $497,000 after buying an additional 515 shares during the period. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $27.12 on Thursday. The company's 50 day simple moving average is $28.77 and its 200-day simple moving average is $22.87. The company has a market capitalization of $957.06 million, a price-to-earnings ratio of -17.96, a price-to-earnings-growth ratio of 3.04 and a beta of 1.78. Montrose Environmental Group has a 1 year low of $10.51 and a 1 year high of $32.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.78 and a current ratio of 1.78.

About Montrose Environmental Group

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.

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