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.
Check Out Our Latest Stock Report on Montrose Environmental Group
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
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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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