Montrose Environmental Group (NYSE:ONT) Stock Price Target Lowered at JPMorgan Chase & Co.

Montrose Environmental Group (NYSE:ONT) had its target price cut by JPMorgan Chase & Co. from $16.00 to $14.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 1.97% from the stock’s previous close.

A number of other brokerages also recently weighed in on ONT. Bank of America downgraded Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, August 6th. Weiss Ratings downgraded Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Wall Street Zen cut Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Barclays reaffirmed an “equal weight” rating and set a $15.00 price target (down from $19.00) on shares of Montrose Environmental Group in a report on Friday, August 7th. Finally, Needham & Company LLC reduced their price objective on shares of Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $17.50.

Montrose Environmental Group Stock Down 3.4%

ONT stock traded down $0.49 during mid-day trading on Thursday, reaching $13.73. The company had a trading volume of 697,724 shares, compared to its average volume of 564,896. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a 50 day simple moving average of $16.90 and a two-hundred day simple moving average of $18.48. The company has a market capitalization of $482.20 million, a price-to-earnings ratio of -41.60, a PEG ratio of 1.49 and a beta of 1.83. Montrose Environmental Group has a 52 week low of $12.26 and a 52 week high of $30.90.

Montrose Environmental Group (NYSE:ONT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.43. The firm had revenue of $186.66 million for the quarter, compared to analyst estimates of $179.69 million. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%. As a group, equities analysts predict that Montrose Environmental Group will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Montrose Environmental Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its stake 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 buying an additional 66,543 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of Montrose Environmental Group during the first quarter worth about $3,418,000. Conestoga Capital Advisors LLC raised its holdings in Montrose Environmental Group by 16.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock worth $1,828,000 after purchasing an additional 12,040 shares during the last quarter. Hsbc Holdings PLC raised its stake in Montrose Environmental Group by 41.9% during the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after buying an additional 4,493 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Montrose Environmental Group by 3,733.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $252,000 after purchasing an additional 11,200 shares during the period. 87.87% of the stock is currently owned by institutional investors.

About Montrose Environmental Group

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other clients address complex environmental challenges. Its services support regulatory compliance, pollution reduction, environmental risk management and the responsible use of natural resources.

The company provides services across environmental assessment, permitting and response; measurement and analysis; and remediation and reuse. Its capabilities include air quality consulting and emissions monitoring, laboratory and field testing, environmental compliance support, investigation and remediation of contaminated sites, water and wastewater services, and environmental planning and permitting.

Montrose serves clients across a range of industries and government markets, with operations and project work throughout the United States and select international locations.