Montrose Environmental Group (NYSE:MEG) Receives "Neutral" Rating from JPMorgan Chase & Co.

Montrose Environmental Group (NYSE:MEG - Get Free Report)'s stock had its "neutral" rating reissued by analysts at JPMorgan Chase & Co. in a report released on Friday, MarketBeat Ratings reports. They presently have a $29.00 price target on the stock, down from their previous price target of $48.00. JPMorgan Chase & Co.'s price target indicates a potential upside of 41.39% from the stock's previous close.

A number of other research firms have also recently weighed in on MEG. Needham & Company LLC reissued a "buy" rating and issued a $54.00 target price on shares of Montrose Environmental Group in a research note on Wednesday, October 16th. Bank of America cut Montrose Environmental Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $52.00 to $29.00 in a report on Wednesday. Finally, Evercore ISI set a $43.00 price target on shares of Montrose Environmental Group in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.17.

Montrose Environmental Group Stock Performance

MEG traded down $3.16 on Friday, hitting $20.51. 1,125,145 shares of the stock traded hands, compared to its average volume of 388,467. The firm has a market capitalization of $702.06 million, a PE ratio of -14.19 and a beta of 1.86. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. Montrose Environmental Group has a 52 week low of $19.59 and a 52 week high of $49.97. The business has a fifty day moving average price of $26.70 and a two-hundred day moving average price of $35.58.

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

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its position in Montrose Environmental Group by 43.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company's stock worth $86,000 after purchasing an additional 586 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Montrose Environmental Group by 11.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company's stock worth $187,000 after acquiring an additional 504 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Montrose Environmental Group during the second quarter valued at $204,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Montrose Environmental Group in the third quarter worth about $212,000. Finally, Net Worth Advisory Group bought a new stake in Montrose Environmental Group during the 3rd quarter worth about $213,000. 87.87% of the stock is owned by institutional investors.

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.