Brokerages Set Montrose Environmental Group, Inc. (NYSE:MEG) PT at $32.00

Shares of Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $32.00.

Several brokerages have weighed in on MEG. Needham & Company LLC restated a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of Montrose Environmental Group in a research note on Friday, August 8th. Wall Street Zen upgraded Montrose Environmental Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

Montrose Environmental Group Stock Up 3.4%

Shares of MEG traded up $0.99 during trading hours on Wednesday, reaching $30.31. The stock had a trading volume of 378,741 shares, compared to its average volume of 515,049. Montrose Environmental Group has a 12 month low of $10.51 and a 12 month high of $32.00. The firm has a 50-day simple moving average of $25.15 and a 200 day simple moving average of $20.17. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -20.07, a P/E/G ratio of 3.03 and a beta of 1.84.

Hedge Funds Weigh In On Montrose Environmental Group

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in Montrose Environmental Group by 4.3% during the 1st quarter. Rhumbline Advisers now owns 45,101 shares of the company's stock valued at $643,000 after acquiring an additional 1,875 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Montrose Environmental Group by 156.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 44,608 shares of the company's stock worth $636,000 after purchasing an additional 27,237 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Montrose Environmental Group during the 1st quarter worth $627,000. Oppenheimer Asset Management Inc. raised its stake in shares of Montrose Environmental Group by 23.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,023 shares of the company's stock worth $271,000 after purchasing an additional 3,598 shares during the period. Finally, Natixis Advisors LLC bought a new stake in shares of Montrose Environmental Group during the 1st quarter worth $254,000. 87.87% of the stock is currently owned by institutional investors.

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.