Montrose Environmental Group (NYSE:MEG) Shares Gap Up – Still a Buy?

Shares of Montrose Environmental Group, Inc. (NYSE:MEGGet Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $17.94, but opened at $18.75. Montrose Environmental Group shares last traded at $19.51, with a volume of 15,795 shares.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of recent analyst reports. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research report on Thursday, October 17th. Needham & Company LLC decreased their target price on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. restated 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. Finally, Bank of America downgraded 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 research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Montrose Environmental Group has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Check Out Our Latest Stock Report on Montrose Environmental Group

Montrose Environmental Group Trading Up 5.8 %

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 50-day moving average of $24.82 and a 200 day moving average of $34.10.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. increased its stake in Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock worth $86,000 after acquiring an additional 586 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at $111,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Montrose Environmental Group by 11.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after buying an additional 504 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Montrose Environmental Group in the second quarter valued at $204,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at $212,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

About Montrose Environmental Group

(Get Free Report)

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.

See Also

Receive News & Ratings for Montrose Environmental Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Montrose Environmental Group and related companies with MarketBeat.com's FREE daily email newsletter.