Montrose Environmental Group (NYSE:MEG) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Montrose Environmental Group (NYSE:MEG) in a report published on Friday morning,Benzinga reports. The firm currently has a $39.00 price objective on the stock.

A number of other equities analysts have also issued reports on the company. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $52.00 to $29.00 in a report on Wednesday, November 6th. Stifel Nicolaus lowered their price target 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 set a $43.00 price objective on shares of Montrose Environmental Group in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.60.

Montrose Environmental Group Trading Up 1.5 %

Montrose Environmental Group stock opened at $22.60 on Friday. Montrose Environmental Group has a 52-week low of $15.21 and a 52-week 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 firm has a market capitalization of $775.21 million, a price-to-earnings ratio of -15.17 and a beta of 1.70. The firm has a 50-day moving average price of $18.77 and a two-hundred day moving average price of $26.06.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its holdings in Montrose Environmental Group by 43.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after acquiring an additional 586 shares during the last quarter. Avanza Fonder AB acquired a new stake in Montrose Environmental Group during the fourth quarter valued at approximately $105,000. Point72 DIFC Ltd bought a new stake in Montrose Environmental Group during the third quarter worth approximately $111,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Montrose Environmental Group in the third quarter worth approximately $212,000. Finally, Net Worth Advisory Group bought a new position in shares of Montrose Environmental Group in the third quarter valued at $213,000. 87.87% of the stock is owned by institutional investors and hedge funds.

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.