Montrose Environmental Group (NYSE:ONT) Stock Rating Upgraded by Wall Street Zen

Montrose Environmental Group (NYSE:ONT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other brokerages have also recently weighed in on ONT. Needham & Company LLC dropped their target price on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Finally, Barclays lowered their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.00.

Montrose Environmental Group Price Performance

Shares of NYSE ONT opened at $19.66 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $710.51 million, a price-to-earnings ratio of 393.28, a price-to-earnings-growth ratio of 1.44 and a beta of 1.67. Montrose Environmental Group has a twelve month low of $14.13 and a twelve month high of $32.00. The business has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $21.15.

Insider Buying and Selling

In other Montrose Environmental Group news, CFO Allan Dicks acquired 6,535 shares of Montrose Environmental Group stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the transaction, the chief financial officer owned 218,178 shares in the company, valued at approximately $3,351,214.08. This represents a 3.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter Graham bought 25,140 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the transaction, the director owned 256,689 shares in the company, valued at $4,412,483.91. This trade represents a 10.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 36,535 shares of company stock worth $610,003. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ONT. Nordea Investment Management AB bought a new position in Montrose Environmental Group during the 4th quarter valued at $1,382,000. Tudor Investment Corp ET AL bought a new stake in Montrose Environmental Group in the third quarter worth about $3,979,000. Allspring Global Investments Holdings LLC acquired a new stake in Montrose Environmental Group in the 4th quarter valued at about $10,140,000. Fisher Asset Management LLC lifted its holdings in Montrose Environmental Group by 36.7% in the 4th quarter. Fisher Asset Management LLC now owns 352,569 shares of the company’s stock valued at $8,754,000 after acquiring an additional 94,697 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Montrose Environmental Group by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock valued at $49,328,000 after purchasing an additional 57,437 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Company Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.