Montrose Environmental Group (NYSE:MEG) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Montrose Environmental Group (NYSE:MEG) in a research note issued to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a $54.00 price objective on the stock.

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

Montrose Environmental Group Trading Up 4.3 %

Montrose Environmental Group stock opened at $22.55 on Thursday. Montrose Environmental Group has a 52 week low of $21.17 and a 52 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. The firm has a market capitalization of $768.53 million, a price-to-earnings ratio of -15.24 and a beta of 1.87. The company has a 50 day moving average price of $29.82 and a 200 day moving average price of $38.26.

Montrose Environmental Group (NYSE:MEG) last issued its earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.15). The business had revenue of $173.33 million during 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%. Research analysts forecast that Montrose Environmental Group will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Montrose Environmental Group

Large investors have recently made changes to their positions in the company. Cladis Investment Advisory LLC acquired a new stake in Montrose Environmental Group in the fourth quarter valued at approximately $209,000. Fisher Asset Management LLC raised its holdings in shares of Montrose Environmental Group by 3.1% during the 4th 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 in the last quarter. Mainsail Asset Management LLC acquired a new stake in shares of Montrose Environmental Group in the 1st quarter valued at $217,000. Yarbrough Capital LLC boosted its holdings in Montrose Environmental Group by 111.5% in the first quarter. Yarbrough Capital LLC now owns 23,182 shares of the company’s stock worth $908,000 after purchasing an additional 12,222 shares in the last quarter. Finally, Radnor Capital Management LLC acquired a new position in Montrose Environmental Group during the first quarter worth $574,000. 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.