Montrose Environmental Group (NYSE:ONT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Montrose Environmental Group (NYSE:ONT) from a sell rating to a hold rating in a research report report published on Sunday.

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

Montrose Environmental Group Trading Up 3.9%

ONT stock opened at $20.64 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Montrose Environmental Group has a twelve month low of $14.13 and a twelve month high of $32.00. The stock has a market capitalization of $745.93 million, a price-to-earnings ratio of 412.88, a price-to-earnings-growth ratio of 1.45 and a beta of 1.67. The firm’s fifty day simple moving average is $18.45 and its two-hundred day simple moving average is $21.04.

Insider Buying and Selling

In related news, CFO Allan Dicks bought 6,535 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the acquisition, the chief financial officer directly owned 218,178 shares in the company, valued at approximately $3,351,214.08. This represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Graham acquired 25,140 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased 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 of the company’s stock, valued at $4,412,483.91. This trade represents a 10.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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

A number of large investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. increased its holdings in shares of Montrose Environmental Group by 3,733.3% in the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock worth $252,000 after acquiring an additional 11,200 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Montrose Environmental Group by 5.2% during the first quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock worth $29,470,000 after acquiring an additional 66,543 shares during the period. Fifth Third Bancorp acquired a new position in shares of Montrose Environmental Group in the first quarter valued at about $201,000. Hsbc Holdings PLC increased its stake in Montrose Environmental Group by 41.9% during the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after acquiring an additional 4,493 shares during the period. Finally, Conestoga Capital Advisors LLC increased its holdings in Montrose Environmental Group by 16.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock valued at $1,828,000 after buying an additional 12,040 shares during the period. 87.87% of the stock is currently owned by institutional investors and hedge funds.

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.