Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) traded down 6.3% during mid-day trading on Thursday . The stock traded as low as $16.72 and last traded at $16.46. 46,247 shares were traded during trading, a decline of 91% from the average session volume of 492,893 shares. The stock had previously closed at $17.56.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on MEG shares. Stifel Nicolaus decreased their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, December 11th. Evercore ISI reduced their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $39.00 target price on shares of Montrose Environmental Group in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.60.
Read Our Latest Stock Report on MEG
Montrose Environmental Group Trading Up 0.2 %
The stock has a market cap of $580.24 million, a PE ratio of -11.34 and a beta of 1.72. The company's 50-day moving average price is $20.01 and its 200 day moving average price is $21.99. 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 Trading of Montrose Environmental Group
A number of hedge funds and other institutional investors have recently modified their holdings of MEG. Quarry LP purchased a new position in Montrose Environmental Group during the fourth quarter worth about $36,000. KBC Group NV lifted its holdings 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 worth $54,000 after acquiring an additional 1,613 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Montrose Environmental Group during the 4th quarter worth approximately $105,000. Point72 DIFC Ltd acquired a new stake in Montrose Environmental Group in the 3rd quarter valued at approximately $111,000. Finally, PNC Financial Services Group Inc. raised its position in Montrose Environmental Group by 42.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock valued at $118,000 after purchasing an additional 1,898 shares during the period. 87.87% of the stock is owned by institutional investors and hedge funds.
Montrose Environmental Group Company Profile
(
Get Free Report)
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.
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