Montrose Environmental Group (NYSE:MEG) Reaches New 1-Year Low – Here’s Why

Montrose Environmental Group, Inc. (NYSE:MEG)’s stock price reached a new 52-week low on Thursday . The company traded as low as $14.90 and last traded at $15.42, with a volume of 605437 shares traded. The stock had previously closed at $15.76.

Wall Street Analyst Weigh In

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

Montrose Environmental Group Stock Performance

The stock has a market cap of $501.02 million, a PE ratio of -9.79 and a beta of 1.72. The stock has a fifty day simple moving average of $19.46 and a two-hundred day simple moving average of $21.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

Institutional Investors Weigh In On Montrose Environmental Group

Large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Montrose Environmental Group during the 4th quarter valued at approximately $36,000. KBC Group NV boosted its stake in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after acquiring an additional 1,613 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Montrose Environmental Group during the 3rd quarter worth $111,000. Avanza Fonder AB bought a new stake in shares of Montrose Environmental Group in the 4th quarter worth about $105,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Montrose Environmental Group by 42.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock worth $118,000 after purchasing an additional 1,898 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

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.