Evercore ISI Issues Pessimistic Forecast for Montrose Environmental Group (NYSE:MEG) Stock Price

Montrose Environmental Group (NYSE:MEG) had its target price dropped by Evercore ISI from $40.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 58.05% from the stock’s previous close.

MEG has been the topic of a number of other research reports. Stifel Nicolaus cut their price objective 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. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Stock Down 1.2 %

Shares of NYSE MEG traded down $0.26 during mid-day trading on Monday, reaching $20.88. 60,240 shares of the company were exchanged, compared to its average volume of 496,264. The firm has a 50-day moving average of $19.50 and a 200 day moving average of $24.24. Montrose Environmental Group has a 1 year low of $15.21 and a 1 year 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 stock has a market cap of $716.20 million, a price-to-earnings ratio of -14.01 and a beta of 1.71.

Institutional Trading of Montrose Environmental Group

Large investors have recently bought and sold shares of the business. KBC Group NV lifted its stake in Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock worth $54,000 after purchasing an additional 1,613 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Montrose Environmental Group during the third quarter worth $111,000. Avanza Fonder AB purchased a new stake in Montrose Environmental Group in the 4th quarter valued at $105,000. PNC Financial Services Group Inc. increased 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 acquiring an additional 1,898 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Montrose Environmental Group during the 3rd quarter worth $212,000. 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.