Montrose Environmental Group (NYSE:MEG – Get Free Report) had its price objective dropped by equities research analysts at Needham & Company LLC from $44.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 133.25% from the company’s previous close.
A number of other analysts also recently issued reports on the stock. Stifel Nicolaus dropped their target price 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. Finally, Evercore ISI set a $43.00 price objective 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.60.
Check Out Our Latest Report on Montrose Environmental Group
Montrose Environmental Group Trading Down 4.5 %
Institutional Trading of Montrose Environmental Group
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its holdings in Montrose Environmental Group by 43.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock worth $86,000 after purchasing an additional 586 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Montrose Environmental Group during the third quarter worth approximately $111,000. Los Angeles Capital Management LLC bought a new stake in shares of Montrose Environmental Group in the second quarter worth $204,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Montrose Environmental Group in the third quarter valued at $212,000. Finally, Net Worth Advisory Group bought a new position in Montrose Environmental Group during the 3rd quarter valued at $213,000. 87.87% of the stock is owned by hedge funds and other institutional investors.
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.
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