Montrose Environmental Group (NYSE:MEG) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Montrose Environmental Group (NYSE:MEG) has received a "Sell (D-)" rating from Weiss Ratings, indicating a negative outlook from analysts.
• In contrast, other analysts, such as Barclays and Needham & Company, have given the stock an overweight and buy rating respectively, with price targets of $35.00 and $31.00.
• Montrose Environmental Group's stock has experienced 12-month performance fluctuations, ranging from a low of $10.51 to a high of $32.00, and currently trades around $28.78.

Montrose Environmental Group (NYSE:MEG - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the company. Barclays started coverage on Montrose Environmental Group in a research note on Friday, September 19th. They set an "overweight" rating and a $35.00 price objective for the company. 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. Finally, Wall Street Zen upgraded Montrose Environmental Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $32.50.

Montrose Environmental Group Stock Up 0.4%

Shares of NYSE:MEG opened at $28.78 on Wednesday. The stock has a fifty day simple moving average of $27.96 and a two-hundred day simple moving average of $21.90. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.06, a PEG ratio of 2.85 and a beta of 1.78. Montrose Environmental Group has a 12-month low of $10.51 and a 12-month high of $32.00. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.60.

Institutional Trading of Montrose Environmental Group

Several large investors have recently modified their holdings of the company. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Montrose Environmental Group in the second quarter worth $705,000. Caxton Associates LLP bought a new stake in shares of Montrose Environmental Group in the second quarter worth $597,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Montrose Environmental Group by 2.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company's stock worth $497,000 after acquiring an additional 515 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Montrose Environmental Group by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company's stock worth $68,000 after acquiring an additional 1,508 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of Montrose Environmental Group in the second quarter worth $213,000. Institutional investors own 87.87% of the company's stock.

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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