Montrose Environmental Group (NYSE:MEG) Earns “Neutral” Rating from JPMorgan Chase & Co.

Montrose Environmental Group (NYSE:MEG)‘s stock had its “neutral” rating reissued by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Friday, MarketBeat reports. They currently have a $29.00 target price on the stock, down from their prior target price of $48.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 22.52% from the company’s current price.

MEG has been the subject of several other reports. Evercore ISI set a $43.00 target price on Montrose Environmental Group in a report on Thursday, October 17th. Bank of America lowered shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $29.00 in a research note on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $23.67 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $810.22 million, a price-to-earnings ratio of -15.89 and a beta of 1.86. The firm has a 50-day moving average of $26.70 and a two-hundred day moving average of $35.58. Montrose Environmental Group has a 1 year low of $19.59 and a 1 year high of $49.97.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.15). Montrose Environmental Group had a negative net margin of 4.91% and a positive return on equity of 0.22%. The company had revenue of $173.33 million for the quarter, compared to the consensus estimate of $174.59 million. On average, research analysts forecast that Montrose Environmental Group will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 acquiring an additional 586 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Montrose Environmental Group in the second quarter worth $204,000. CANADA LIFE ASSURANCE Co increased its position in shares of Montrose Environmental Group by 11.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after purchasing an additional 504 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Montrose Environmental Group during the 1st quarter valued at $271,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Montrose Environmental Group in the 2nd quarter worth $310,000. 87.87% of the stock is owned by 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.