Needham & Company LLC Reaffirms "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 research note released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $39.00 price objective on the stock.

MEG has been the topic of several other reports. Stifel Nicolaus reduced their target price on 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. Bank of America lowered shares of Montrose Environmental Group from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Evercore ISI cut 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 research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Two 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, Montrose Environmental Group has an average rating of "Moderate Buy" and an average price target of $33.60.

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Montrose Environmental Group Trading Down 4.0 %

Shares of NYSE:MEG traded down $0.72 during midday trading on Tuesday, hitting $17.23. 594,908 shares of the stock traded hands, compared to its average volume of 494,168. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $590.87 million, a PE ratio of -11.56 and a beta of 1.71. Montrose Environmental Group has a one year low of $15.21 and a one year high of $49.97. The business's 50 day moving average is $20.18 and its two-hundred day moving average is $22.73.

Institutional Trading of Montrose Environmental Group

Hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in Montrose Environmental Group during the 4th quarter valued at about $36,000. KBC Group NV increased its stake in shares of Montrose Environmental Group by 126.5% during the fourth 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 in the last quarter. Avanza Fonder AB purchased a new position in shares of Montrose Environmental Group during the fourth quarter valued at approximately $105,000. Point72 DIFC Ltd bought a new stake in shares of Montrose Environmental Group in the 3rd quarter worth approximately $111,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock worth $118,000 after buying an additional 1,898 shares during the last quarter. 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.