JPMorgan Chase & Co. Boosts Montrose Environmental Group (NYSE:MEG) Price Target to $33.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Montrose Environmental Group (NYSE:MEG) from $26.00 to $33.00, indicating a potential upside of 14.57% from the current stock price.
• Other analysts have varied opinions on MEG, with Barclays setting a target of $35.00 and Needham & Company LLC raising their target to $31.00 while maintaining a "buy" rating.
• Montrose Environmental Group has an average rating of "Hold" and a consensus target price of $33.17, with significant interest from institutional investors owning approximately 87.87% of the company's stock.

Montrose Environmental Group (NYSE:MEG - Get Free Report) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $26.00 to $33.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 14.57% from the company's current price.

A number of other equities research analysts also recently commented on MEG. Wall Street Zen raised shares of Montrose Environmental Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barclays began coverage on shares of Montrose Environmental Group in a report on Friday, September 19th. They issued an "overweight" rating and a $35.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 target price (up from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Montrose Environmental Group currently has an average rating of "Hold" and a consensus target price of $33.17.

Montrose Environmental Group Price Performance

MEG traded down $0.26 during trading on Tuesday, reaching $28.80. The stock had a trading volume of 32,920 shares, compared to its average volume of 469,689. The stock has a market cap of $1.02 billion, a PE ratio of -19.11, a PEG ratio of 2.73 and a beta of 1.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.78 and a current ratio of 1.78. Montrose Environmental Group has a one year low of $10.51 and a one year high of $32.00. The business has a 50-day moving average of $28.37 and a 200-day moving average of $22.28.

Institutional Trading of Montrose Environmental Group

A number of large investors have recently bought and sold shares of MEG. Canada Pension Plan Investment Board increased its holdings in shares of Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company's stock valued at $42,000 after purchasing an additional 1,600 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Montrose Environmental Group by 569.3% during the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company's stock worth $58,000 after purchasing an additional 3,484 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company's stock worth $68,000 after purchasing an additional 1,508 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Montrose Environmental Group during the 1st quarter worth about $79,000. Finally, CWM LLC boosted its stake in shares of Montrose Environmental Group by 1,015.3% during the 2nd quarter. CWM LLC now owns 4,506 shares of the company's stock worth $99,000 after purchasing an additional 4,102 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company's stock.

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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