Montrose Environmental Group (NYSE:MEG) Given New $38.00 Price Target at Stifel Nicolaus

Montrose Environmental Group (NYSE:MEG) had its target price decreased by Stifel Nicolaus from $41.00 to $38.00 in a report released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other analysts have also recently issued reports on MEG. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research note on Thursday, October 17th. Bank of America cut shares of 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 research report on Wednesday, November 6th. Finally, Needham & Company LLC lowered their price objective on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Montrose Environmental Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Montrose Environmental Group Stock Performance

Shares of MEG opened at $16.53 on Wednesday. The firm has a market cap of $566.98 million, a price-to-earnings ratio of -11.09 and a beta of 1.71. 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 50 day moving average is $21.68 and its two-hundred day moving average is $30.75. Montrose Environmental Group has a 52-week low of $15.21 and a 52-week high of $49.97.

Institutional Investors Weigh In On Montrose Environmental Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its holdings in shares of Montrose Environmental Group by 43.3% during the third 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. Ghisallo Capital Management LLC acquired a new stake in Montrose Environmental Group in the 2nd quarter valued at approximately $3,119,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Montrose Environmental Group during the 3rd quarter valued at $6,801,000. Rockefeller Capital Management L.P. raised its stake in Montrose Environmental Group by 189.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock valued at $1,223,000 after acquiring an additional 30,437 shares in the last quarter. Finally, FMR LLC grew its stake 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 worth $9,265,000 after purchasing an additional 35,314 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors.

About Montrose Environmental Group

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.