Montrose Environmental Group (NYSE:MEG) Trading 8% Higher – Still a Buy?

Montrose Environmental Group, Inc. (NYSE:MEG) traded up 8% during mid-day trading on Monday . The stock traded as high as $15.85 and last traded at $15.80. 101,811 shares were traded during mid-day trading, a decline of 80% from the average session volume of 521,641 shares. The stock had previously closed at $14.63.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MEG shares. Evercore ISI reduced their price target on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 target price on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus lowered their price target on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Montrose Environmental Group has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Stock Up 0.2 %

The stock has a market capitalization of $529.49 million, a PE ratio of -10.40 and a beta of 1.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The business’s fifty day moving average price is $19.22 and its two-hundred day moving average price is $21.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MEG. Wellington Management Group LLP acquired a new stake in Montrose Environmental Group during the 4th quarter valued at approximately $6,135,000. Paradigm Capital Management Inc. NY purchased a new stake in Montrose Environmental Group in the fourth quarter valued at $1,855,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Montrose Environmental Group by 3.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,281,177 shares of the company’s stock valued at $42,316,000 after buying an additional 67,280 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Montrose Environmental Group in the fourth quarter worth about $2,505,000. Finally, Point72 Asset Management L.P. raised its position in Montrose Environmental Group by 13.4% during the fourth quarter. Point72 Asset Management L.P. now owns 36,000 shares of the company’s stock valued at $668,000 after acquiring an additional 4,243 shares in the last quarter. 87.87% of the stock is currently owned by hedge funds and other 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.