Montrose Environmental Group (NYSE:MEG) Shares Down 5.1% – Should You Sell?

Montrose Environmental Group, Inc. (NYSE:MEG)’s share price traded down 5.1% on Tuesday . The stock traded as low as $20.54 and last traded at $20.64. 68,426 shares were traded during mid-day trading, a decline of 89% from the average session volume of 636,911 shares. The stock had previously closed at $21.76.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a report on Thursday, October 17th. Bank of America lowered shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $29.00 target price (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Stifel Nicolaus decreased their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Needham & Company LLC decreased their price target on shares of Montrose Environmental Group from $44.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.60.

Montrose Environmental Group Stock Down 2.4 %

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 capitalization of $728.55 million, a P/E ratio of -14.25 and a beta of 1.70. The stock’s fifty day simple moving average is $18.90 and its two-hundred day simple moving average is $26.42.

Institutional Investors Weigh In On Montrose Environmental Group

Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP grew its holdings in Montrose Environmental Group by 43.3% during the 3rd quarter. Royce & Associates LP now owns 345,069 shares of the company’s stock worth $9,075,000 after acquiring an additional 104,320 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in Montrose Environmental Group during the 2nd quarter worth approximately $3,119,000. FMR LLC lifted its position in shares of Montrose Environmental Group by 11.1% in the 3rd quarter. FMR LLC now owns 352,264 shares of the company’s stock worth $9,265,000 after purchasing an additional 35,314 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Montrose Environmental Group in the 3rd quarter worth approximately $6,801,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Montrose Environmental Group by 189.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock worth $1,223,000 after purchasing an additional 30,437 shares during the period. 87.87% of the stock is owned by institutional investors.

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.