Montrose Environmental Group, Inc. (NYSE:MEG) Receives $32.00 Consensus Target Price from Brokerages

Shares of Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) have received a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $32.00.

A number of research firms recently commented on MEG. Needham & Company LLC reiterated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of Montrose Environmental Group in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Montrose Environmental Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

Montrose Environmental Group Price Performance

Shares of NYSE MEG traded up $0.99 during mid-day trading on Wednesday, reaching $30.31. 378,741 shares of the company traded hands, compared to its average volume of 478,620. Montrose Environmental Group has a fifty-two week low of $10.51 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $1.07 billion, a PE ratio of -20.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.84. The stock has a fifty day simple moving average of $24.98 and a 200-day simple moving average of $20.06.

Institutional Trading of Montrose Environmental Group

Large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its holdings in Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company's stock worth $42,000 after buying an additional 1,600 shares in 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 worth $68,000 after buying an additional 1,508 shares in the last quarter. AlphaQuest LLC boosted its holdings in Montrose Environmental Group by 569.3% during the first quarter. AlphaQuest LLC now owns 4,096 shares of the company's stock worth $58,000 after buying an additional 3,484 shares in the last quarter. CWM LLC boosted its holdings in Montrose Environmental Group by 1,015.3% during the second quarter. CWM LLC now owns 4,506 shares of the company's stock worth $99,000 after buying an additional 4,102 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in Montrose Environmental Group during the second quarter worth approximately $113,000. 87.87% of the stock is currently owned by institutional investors.

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.