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

Montrose Environmental Group, Inc. (NYSE:MEG) has earned an average rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.00.

MEG has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $31.00 price objective (up from $30.00) on shares of Montrose Environmental Group in a report on Friday, August 8th. Wall Street Zen raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Institutional Trading of Montrose Environmental Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Montrose Environmental Group in the second quarter valued at about $705,000. Caxton Associates LLP acquired a new stake in shares of Montrose Environmental Group in the second quarter valued at about $597,000. CANADA LIFE ASSURANCE Co grew its position 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 valued at $497,000 after purchasing an additional 515 shares during the period. Tower Research Capital LLC TRC grew its position 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 valued at $68,000 after purchasing an additional 1,508 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Montrose Environmental Group in the second quarter valued at about $213,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

NYSE MEG opened at $30.31 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.78 and a current ratio of 1.78. The firm’s 50 day moving average price is $25.15 and its 200-day moving average price is $20.15. Montrose Environmental Group has a 52-week low of $10.51 and a 52-week high of $32.00. The company has a market cap of $1.07 billion, a PE ratio of -20.07, a P/E/G ratio of 2.92 and a beta of 1.84.

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.