Montrose Environmental Group (NYSE:MEG) Given Neutral Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Montrose Environmental Group (NYSE:MEG) in a research report report published on Friday, MarketBeat Ratings reports. They currently have a $29.00 target price on the stock, down from their previous target price of $48.00.

MEG has been the subject of a number of other reports. Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research report on Wednesday, October 16th. Finally, Evercore ISI set a $43.00 target price on Montrose Environmental Group in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Montrose Environmental Group presently has an average rating of “Moderate Buy” and an average price target of $39.20.

Montrose Environmental Group Stock Up 6.1 %

MEG stock opened at $21.77 on Friday. The stock has a market cap of $745.19 million, a P/E ratio of -14.61 and a beta of 1.86. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. Montrose Environmental Group has a twelve month low of $19.59 and a twelve month high of $49.97. The company’s 50 day moving average is $26.23 and its two-hundred day moving average is $35.23.

Institutional Investors Weigh In On Montrose Environmental Group

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Montrose Environmental Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,544,607 shares of the company’s stock valued at $60,502,000 after acquiring an additional 9,913 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Montrose Environmental Group by 17.6% during the second quarter. Fred Alger Management LLC now owns 1,395,696 shares of the company’s stock worth $62,192,000 after purchasing an additional 208,785 shares during the period. Federated Hermes Inc. grew its position in Montrose Environmental Group by 11.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,270,500 shares of the company’s stock valued at $56,613,000 after buying an additional 130,000 shares during the last quarter. Bamco Inc. NY grew its position in Montrose Environmental Group by 9.8% in the 1st quarter. Bamco Inc. NY now owns 1,154,030 shares of the company’s stock valued at $45,203,000 after buying an additional 102,536 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Montrose Environmental Group by 253.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock valued at $51,210,000 after buying an additional 823,636 shares during the period. Institutional investors and hedge funds 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.