Needham & Company LLC Reiterates "Buy" Rating for Montrose Environmental Group (NYSE:MEG)

Needham & Company LLC reaffirmed their buy rating on shares of Montrose Environmental Group (NYSE:MEG - Free Report) in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $39.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Evercore ISI set a $43.00 price target on shares of Montrose Environmental Group in a report on Thursday, October 17th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Bank of America cut Montrose Environmental Group from a "buy" rating to a "neutral" rating and cut their price target for the company from $52.00 to $29.00 in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus lowered their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.60.

Montrose Environmental Group Stock Down 1.0 %

MEG traded down $0.21 on Tuesday, hitting $21.52. 283,531 shares of the company were exchanged, compared to its average volume of 565,050. The firm has a 50-day moving average price of $19.07 and a two-hundred day moving average price of $25.19. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group has a twelve month low of $15.21 and a twelve month high of $49.97. The company has a market cap of $738.10 million, a price-to-earnings ratio of -14.44 and a beta of 1.70.

Institutional Trading of Montrose Environmental Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV boosted its position in shares of Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock valued at $54,000 after purchasing an additional 1,613 shares during the period. Avanza Fonder AB acquired a new stake in shares of Montrose Environmental Group in the fourth quarter valued at approximately $105,000. Point72 DIFC Ltd purchased a new position in shares of Montrose Environmental Group during the third quarter worth approximately $111,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Montrose Environmental Group in the 3rd quarter valued at $212,000. Finally, Net Worth Advisory Group purchased a new stake in Montrose Environmental Group in the 3rd quarter valued at $213,000. Institutional investors and hedge funds 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.