Montrose Environmental Group, Inc. (NYSE:ONT) Stock Rated “Reduce” by Wall Street Analysts

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have been assigned an average recommendation of “Reduce” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $18.50.

A number of equities analysts have weighed in on ONT shares. Weiss Ratings lowered Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. lowered their price target on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Wall Street Zen upgraded Montrose Environmental Group from a “sell” rating to a “hold” rating in a report on Saturday. Barclays increased their target price on Montrose Environmental Group from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Bank of America downgraded shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Thursday, August 6th.

Montrose Environmental Group Stock Up 13.7%

NYSE:ONT opened at $22.08 on Monday. Montrose Environmental Group has a 1-year low of $12.26 and a 1-year high of $30.00. 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 firm’s 50-day moving average price is $15.76 and its 200-day moving average price is $19.25. The company has a market capitalization of $775.45 million, a PE ratio of -73.60, a P/E/G ratio of 1.62 and a beta of 1.80.

Montrose Environmental Group (NYSE:ONT) last issued its earnings results on Wednesday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.33. The business had revenue of $203.04 million during the quarter, compared to analysts’ expectations of $201.10 million. Montrose Environmental Group had a negative net margin of 1.44% and a positive return on equity of 4.11%. On average, equities analysts predict that Montrose Environmental Group will post 0.74 EPS for the current fiscal year.

Institutional Trading of Montrose Environmental Group

Several institutional investors and hedge funds have recently bought and sold shares of ONT. Principal Financial Group Inc. grew its holdings in Montrose Environmental Group by 5.2% during the 1st 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 in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Montrose Environmental Group by 41.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock valued at $328,000 after purchasing an additional 4,493 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in Montrose Environmental Group by 3,733.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock worth $252,000 after buying an additional 11,200 shares during the period. Finally, Fifth Third Bancorp bought a new position in Montrose Environmental Group during the 1st quarter worth $201,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

About Montrose Environmental Group

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other organizations address environmental compliance, sustainability and risk-management needs. Its services span the full project life cycle, from environmental assessment and permitting to monitoring, remediation and ongoing compliance support.

The company provides air quality and emissions testing, environmental laboratory services, consulting, engineering, water and waste management, environmental health and safety support, and remediation services.