Needham & Company LLC Lowers Montrose Environmental Group (NYSE:MEG) Price Target to $28.00

Montrose Environmental Group (NYSE:MEG) had its price target decreased by Needham & Company LLC from $39.00 to $28.00 in a research report issued on Friday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 136.19% from the stock’s previous close.

MEG has been the topic of a number of other reports. Stifel Nicolaus cut their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Evercore ISI dropped their target price on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Montrose Environmental Group currently has an average rating of “Moderate Buy” and an average target price of $31.40.

Montrose Environmental Group Trading Down 2.8 %

NYSE MEG opened at $11.86 on Friday. The company has a market cap of $410.94 million, a P/E ratio of -7.96 and a beta of 1.81. Montrose Environmental Group has a 12 month low of $11.39 and a 12 month high of $49.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The company has a 50-day moving average of $17.75 and a 200-day moving average of $20.35.

Institutional Trading of Montrose Environmental Group

Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Montrose Environmental Group in the 4th quarter worth about $36,000. KBC Group NV grew its position in shares of Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after buying an additional 1,613 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Montrose Environmental Group during the 3rd quarter worth approximately $111,000. Avanza Fonder AB bought a new stake in Montrose Environmental Group in the fourth quarter valued at $105,000. Finally, PNC Financial Services Group Inc. lifted its position in 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 valued at $118,000 after purchasing an additional 1,898 shares during the last quarter. 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.