Evercore ISI Lowers Montrose Environmental Group (NYSE:MEG) Price Target to $33.00

Montrose Environmental Group (NYSE:MEG) had its price objective reduced by Evercore ISI from $40.00 to $33.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also commented on MEG. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Stifel Nicolaus cut 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, Needham & Company LLC reissued a “buy” rating and set a $39.00 price objective on shares of Montrose Environmental Group in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Montrose Environmental Group presently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Montrose Environmental Group Stock Down 2.3 %

NYSE MEG opened at $18.59 on Monday. Montrose Environmental Group has a 52 week low of $15.21 and a 52 week high of $49.97. 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 business’s fifty day simple moving average is $19.58 and its 200-day simple moving average is $24.05. The firm has a market cap of $637.64 million, a PE ratio of -12.48 and a beta of 1.71.

Institutional Trading of Montrose Environmental Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wrapmanager Inc. increased its position in shares of Montrose Environmental Group by 12.8% during the 4th quarter. Wrapmanager Inc. now owns 10,105 shares of the company’s stock worth $187,000 after purchasing an additional 1,150 shares during the last quarter. Natixis Advisors LLC grew its position in Montrose Environmental Group by 6.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock valued at $549,000 after acquiring an additional 1,351 shares in the last quarter. KBC Group NV grew its position in Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after acquiring an additional 1,613 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Montrose Environmental Group by 16.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,123 shares of the company’s stock valued at $540,000 after acquiring an additional 1,695 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Montrose Environmental Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company’s stock valued at $4,926,000 after acquiring an additional 1,831 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

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.