Montrose Environmental Group (NYSE:MEG) Earns “Neutral” Rating from JPMorgan Chase & Co.

Montrose Environmental Group (NYSE:MEG)‘s stock had its “neutral” rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $29.00 target price on the stock, down from their prior target price of $48.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 41.39% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a research report on Wednesday, October 16th. Bank of America downgraded Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $29.00 in a research note on Wednesday. Finally, Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Montrose Environmental Group has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

Montrose Environmental Group Stock Performance

MEG traded down $3.16 during mid-day trading on Friday, reaching $20.51. 1,125,158 shares of the company traded hands, compared to its average volume of 589,191. The company’s fifty day moving average price is $26.45 and its 200-day moving average price is $35.41. The stock has a market capitalization of $702.06 million, a P/E ratio of -13.77 and a beta of 1.86. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.46. Montrose Environmental Group has a 52-week low of $19.59 and a 52-week high of $49.97.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors have recently added to or reduced their stakes in MEG. Intech Investment Management LLC purchased a new stake in shares of Montrose Environmental Group in the third quarter worth about $295,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Montrose Environmental Group in the 3rd quarter worth about $6,801,000. Global Alpha Capital Management Ltd. increased its position in shares of Montrose Environmental Group by 26.3% during the third quarter. Global Alpha Capital Management Ltd. now owns 69,890 shares of the company’s stock worth $1,838,000 after purchasing an additional 14,559 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at about $212,000. Finally, Wrapmanager Inc. raised its holdings in Montrose Environmental Group by 18.8% in the 3rd quarter. Wrapmanager Inc. now owns 8,955 shares of the company’s stock valued at $236,000 after acquiring an additional 1,420 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

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.