Montrose Environmental Group (NYSE:MEG) Price Target Lowered to $44.00 at Needham & Company LLC

Montrose Environmental Group (NYSE:MEG) had its target price reduced by Needham & Company LLC from $54.00 to $44.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research report on Thursday, October 17th. Bank of America downgraded 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Montrose Environmental Group Price Performance

NYSE MEG traded down $3.16 on Friday, hitting $20.51. 1,125,158 shares of the company were exchanged, compared to its average volume of 589,191. The company has a market cap of $702.06 million, a P/E ratio of -13.77 and a beta of 1.86. Montrose Environmental Group has a 1-year low of $19.59 and a 1-year high of $49.97. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $26.45 and a two-hundred day moving average of $35.45.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). Montrose Environmental Group had a positive return on equity of 1.97% and a negative net margin of 5.28%. The firm had revenue of $173.33 million for the quarter, compared to analyst estimates of $174.59 million. On average, equities analysts predict that Montrose Environmental Group will post 0.19 EPS for the current year.

Institutional Trading of Montrose Environmental Group

Hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. raised its position in Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after acquiring an additional 504 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Montrose Environmental Group during the 2nd quarter valued at about $204,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Montrose Environmental Group during the 3rd quarter valued at about $212,000. Finally, Net Worth Advisory Group acquired a new stake in Montrose Environmental Group in the 3rd quarter worth about $213,000. 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.