Montrose Environmental Group (NYSE:MEG) Reaches New 1-Year Low – Here’s Why

Shares of Montrose Environmental Group, Inc. (NYSE:MEG) hit a new 52-week low on Monday . The company traded as low as $13.79 and last traded at $14.63, with a volume of 200850 shares traded. The stock had previously closed at $14.41.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Evercore ISI cut their target price on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Finally, Stifel Nicolaus decreased their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Montrose Environmental Group Trading Down 0.1 %

The firm’s fifty day simple moving average is $18.39 and its 200-day simple moving average is $20.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The stock has a market cap of $471.43 million, a P/E ratio of -9.13 and a beta of 1.81.

Institutional Trading of Montrose Environmental Group

Institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in Montrose Environmental Group during the fourth quarter worth approximately $36,000. KBC Group NV increased its stake in Montrose Environmental Group by 126.5% in the fourth quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after purchasing an additional 1,613 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Montrose Environmental Group during the fourth quarter valued at about $105,000. Point72 DIFC Ltd bought a new position in shares of Montrose Environmental Group during the 3rd quarter worth about $111,000. Finally, PNC Financial Services Group Inc. grew 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 valued at $118,000 after buying an additional 1,898 shares during the period. Institutional investors own 87.87% of the company’s stock.

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.