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

Montrose Environmental Group (NYSE:MEG - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $54.00 target price on the stock. Needham & Company LLC's price objective indicates a potential upside of 103.66% from the stock's previous close.

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

Montrose Environmental Group Trading Down 1.4 %

NYSE:MEG traded down $0.38 on Wednesday, hitting $26.52. 1,117,510 shares of the stock were exchanged, compared to its average volume of 375,491. The stock has a market capitalization of $903.66 million, a price-to-earnings ratio of -17.92 and a beta of 1.87. 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 has a 52 week low of $19.59 and a 52 week high of $49.97. The company's 50-day moving average price is $28.69 and its 200 day moving average price is $37.37.

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

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC lifted its position in Montrose Environmental Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,654 shares of the company's stock valued at $5,162,000 after acquiring an additional 4,828 shares in the last quarter. Yarbrough Capital LLC boosted its position in shares of Montrose Environmental Group by 111.5% during the first quarter. Yarbrough Capital LLC now owns 23,182 shares of the company's stock worth $908,000 after buying an additional 12,222 shares during the period. Radnor Capital Management LLC bought a new position in shares of Montrose Environmental Group during the first quarter worth about $574,000. WoodTrust Financial Corp raised its position in Montrose Environmental Group by 18.3% in the 1st quarter. WoodTrust Financial Corp now owns 22,650 shares of the company's stock valued at $887,000 after buying an additional 3,500 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in 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 acquiring an additional 2,300 shares in the last quarter. Institutional investors own 87.87% of the company's stock.

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.