Montrose Environmental Group (NYSE:MEG) Reaches New 52-Week Low – Should You Sell?

Montrose Environmental Group, Inc. (NYSE:MEG)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $13.79 and last traded at $14.63, with a volume of 200850 shares. The stock had previously closed at $14.41.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MEG. Needham & Company LLC restated a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a report on Tuesday, March 4th. Evercore ISI dropped 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. Finally, Stifel Nicolaus reduced 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 note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Montrose Environmental Group Stock Down 0.1 %

The firm has a market capitalization of $471.43 million, a P/E ratio of -9.13 and a beta of 1.81. 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 stock has a fifty day moving average of $18.39 and a 200 day moving average of $20.64.

Hedge Funds Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in Montrose Environmental Group during the fourth quarter worth about $36,000. KBC Group NV grew its position in shares of 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 period. Point72 DIFC Ltd bought a new position in shares of Montrose Environmental Group during the 3rd quarter valued at approximately $111,000. Avanza Fonder AB purchased a new stake in shares of Montrose Environmental Group during the 4th quarter worth approximately $105,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Montrose Environmental Group by 42.5% in the 4th 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 period. 87.87% of the stock is 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.