Montrose Environmental Group (NYSE:MEG) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Montrose Environmental Group (NYSE:MEG) in a research note released on Wednesday, Benzinga reports. They currently have a $54.00 price target on the stock.

Separately, Evercore ISI assumed coverage on shares of Montrose Environmental Group in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $45.60.

Montrose Environmental Group Price Performance

Shares of NYSE MEG opened at $26.52 on Wednesday. The stock’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $37.37. The firm has a market capitalization of $903.66 million, a PE ratio of -17.92 and a beta of 1.87. Montrose Environmental Group has a fifty-two week low of $19.59 and a fifty-two week high of $49.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.82.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). The company had revenue of $173.33 million for the quarter, compared to analyst estimates of $174.59 million. Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. As a group, equities research analysts forecast that Montrose Environmental Group will post 0.19 EPS for the current fiscal year.

Institutional Trading of Montrose Environmental Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC increased its stake in Montrose Environmental Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,654 shares of the company’s stock valued at $5,162,000 after purchasing an additional 4,828 shares during the period. Yarbrough Capital LLC increased its position in Montrose Environmental Group by 111.5% in the 1st quarter. Yarbrough Capital LLC now owns 23,182 shares of the company’s stock valued at $908,000 after acquiring an additional 12,222 shares during the period. Radnor Capital Management LLC purchased a new stake in Montrose Environmental Group during the 1st quarter valued at approximately $574,000. WoodTrust Financial Corp lifted its position in Montrose Environmental Group by 18.3% during the 1st quarter. WoodTrust Financial Corp now owns 22,650 shares of the company’s stock worth $887,000 after acquiring an additional 3,500 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Montrose Environmental Group by 25.0% in the 1st quarter. Diversified Trust Co now owns 11,500 shares of the company’s stock valued at $450,000 after purchasing an additional 2,300 shares during the last quarter. Hedge funds and other 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.