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 cut by investment analysts at Evercore ISI from $40.00 to $33.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price suggests a potential upside of 58.05% from the company’s previous close.

MEG has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and set a $39.00 price target on shares of Montrose Environmental Group in a report on Tuesday, January 28th. Stifel Nicolaus reduced their price target on shares of 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. reissued a “neutral” rating and issued a $29.00 price objective (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Finally, Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Montrose Environmental Group presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock traded down $0.26 during midday trading on Monday, hitting $20.88. The stock had a trading volume of 60,240 shares, compared to its average volume of 496,264. The company has a current ratio of 1.93, a quick 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 firm’s fifty day moving average is $19.50 and its two-hundred day moving average is $24.24. The company has a market capitalization of $716.20 million, a PE ratio of -14.01 and a beta of 1.71.

Hedge Funds Weigh In On Montrose Environmental Group

Large investors have recently bought and sold shares of the business. Wrapmanager Inc. boosted its stake in shares of Montrose Environmental Group by 12.8% during the fourth quarter. Wrapmanager Inc. now owns 10,105 shares of the company’s stock valued at $187,000 after purchasing an additional 1,150 shares during the period. Natixis Advisors LLC grew its stake in Montrose Environmental Group by 6.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock worth $549,000 after acquiring an additional 1,351 shares in the last quarter. KBC Group NV increased its position 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 worth $54,000 after acquiring an additional 1,613 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Montrose Environmental Group by 16.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,123 shares of the company’s stock worth $540,000 after acquiring an additional 1,695 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Montrose Environmental Group by 0.7% during the fourth 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. Hedge funds and other 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.