Montrose Environmental Group (NYSE:MEG) Reaches New 52-Week Low - Time to Sell?

Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.79 and last traded at $14.63, with a volume of 200850 shares traded. The stock had previously closed at $14.41.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MEG shares. Needham & Company LLC reduced their target price on Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating on the stock in a research note on Friday. Stifel Nicolaus dropped 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. Finally, Evercore ISI reduced their target price on shares of Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.40.

Montrose Environmental Group Stock Performance

The stock's fifty day simple moving average is $17.98 and its two-hundred day simple moving average is $20.53. The company has a market cap of $410.94 million, a price-to-earnings ratio of -7.96 and a beta of 1.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors have recently added to or reduced their stakes in MEG. FMR LLC lifted its stake in shares of Montrose Environmental Group by 11.1% in the 3rd quarter. FMR LLC now owns 352,264 shares of the company's stock valued at $9,265,000 after purchasing an additional 35,314 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Montrose Environmental Group by 189.3% in the third quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company's stock valued at $1,223,000 after buying an additional 30,437 shares during the period. Barclays PLC lifted its position in Montrose Environmental Group by 375.0% during the third quarter. Barclays PLC now owns 53,575 shares of the company's stock valued at $1,410,000 after buying an additional 42,297 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Montrose Environmental Group by 159.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,206 shares of the company's stock worth $1,873,000 after purchasing an additional 43,739 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Montrose Environmental Group in the fourth quarter valued at about $322,000. Hedge funds and other 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.