Needham & Company LLC Issues Positive Forecast for Montrose Environmental Group (NYSE:MEG) Stock Price

Montrose Environmental Group (NYSE:MEG) had its price target lifted by Needham & Company LLC from $31.00 to $32.00 in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on MEG. Wall Street Zen raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Barclays began coverage on Montrose Environmental Group in a research note on Friday, September 19th. They issued an “overweight” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Zacks Research lowered Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.20.

Montrose Environmental Group Price Performance

Shares of NYSE:MEG opened at $25.23 on Thursday. Montrose Environmental Group has a one year low of $10.51 and a one year high of $32.00. The stock has a market capitalization of $890.37 million, a price-to-earnings ratio of -27.73, a PEG ratio of 2.90 and a beta of 1.84. The company has a 50-day simple moving average of $28.30 and a 200-day simple moving average of $23.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.78 and a current ratio of 1.78.

Institutional Trading of Montrose Environmental Group

Hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board lifted its holdings in shares of Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares during the period. AlphaQuest LLC increased its position 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 purchasing an additional 3,484 shares during the last quarter. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 1,508 shares during the period. Brooklyn Investment Group acquired a new position in shares of Montrose Environmental Group in the 1st quarter valued at $79,000. Finally, CWM LLC increased its holdings in shares of Montrose Environmental Group by 1,015.3% during the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock worth $99,000 after buying an additional 4,102 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

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.