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

Montrose Environmental Group (NYSE:MEG) had its target price trimmed by Evercore ISI from $40.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. Stifel Nicolaus lowered their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. restated 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $39.00 price objective on shares of Montrose Environmental Group in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Montrose Environmental Group Price Performance

Shares of NYSE MEG opened at $18.59 on Monday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group has a 52 week low of $15.21 and a 52 week high of $49.97. The business’s 50 day moving average price is $19.58 and its 200 day moving average price is $24.05. The firm has a market cap of $637.64 million, a P/E ratio of -12.48 and a beta of 1.71.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Montrose Environmental Group by 40.0% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 11,302 shares of the company’s stock worth $210,000 after buying an additional 3,231 shares during the period. Wellington Management Group LLP acquired a new position in Montrose Environmental Group in the 4th quarter valued at $6,135,000. Summit Creek Advisors LLC lifted its holdings in Montrose Environmental Group by 49.4% in the 4th quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company’s stock valued at $10,716,000 after purchasing an additional 190,992 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Montrose Environmental Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,802,551 shares of the company’s stock valued at $33,437,000 after purchasing an additional 11,211 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Montrose Environmental Group in the 4th quarter valued at $130,000. 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.