Montrose Environmental Group (NYSE:MEG) Price Target Cut to $33.00 by Analysts at Evercore ISI

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

A number of other analysts have also commented on MEG. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $39.00 price objective on shares of Montrose Environmental Group in a research note on Tuesday, January 28th. Stifel Nicolaus decreased their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Bank of America lowered 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, November 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Montrose Environmental Group Trading Up 0.0 %

MEG opened at $21.15 on Monday. The firm’s fifty day moving average is $19.57 and its two-hundred day moving average is $24.17. The firm has a market cap of $725.33 million, a PE ratio of -14.19 and a beta of 1.71. Montrose Environmental Group has a twelve month low of $15.21 and a twelve month high of $49.97. 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 Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royce & Associates LP increased its stake in Montrose Environmental Group by 43.3% in the 3rd quarter. Royce & Associates LP now owns 345,069 shares of the company’s stock valued at $9,075,000 after buying an additional 104,320 shares during the last quarter. FMR LLC grew its holdings in shares of Montrose Environmental Group by 11.1% in the third quarter. FMR LLC now owns 352,264 shares of the company’s stock valued at $9,265,000 after acquiring an additional 35,314 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Montrose Environmental Group during the third quarter worth $6,801,000. Rockefeller Capital Management L.P. lifted its holdings in Montrose Environmental Group by 189.3% during the third quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock worth $1,223,000 after acquiring an additional 30,437 shares during the period. Finally, Barclays PLC boosted its position in Montrose Environmental Group by 375.0% in the third quarter. Barclays PLC now owns 53,575 shares of the company’s stock worth $1,410,000 after purchasing an additional 42,297 shares during the last quarter. 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.