Montrose Environmental Group (NYSE:ONT) Downgraded by Barclays to “Hold”

Montrose Environmental Group (NYSE:ONT) was downgraded by stock analysts at Barclays from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their price objective on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Bank of America downgraded shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Montrose Environmental Group has an average rating of “Reduce” and an average price target of $19.50.

Montrose Environmental Group Stock Performance

Shares of ONT opened at $16.87 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50-day moving average of $19.13 and a two-hundred day moving average of $20.82. The stock has a market cap of $609.68 million, a P/E ratio of -51.12, a P/E/G ratio of 1.10 and a beta of 1.66. Montrose Environmental Group has a one year low of $12.68 and a one year high of $31.22.

Insider Buying and Selling at Montrose Environmental Group

In other news, CFO Allan Dicks bought 6,535 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the purchase, the chief financial officer directly owned 218,178 shares in the company, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Graham purchased 25,140 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the acquisition, the director directly owned 256,689 shares of the company’s stock, valued at $4,412,483.91. This represents a 10.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 36,535 shares of company stock valued at $610,003. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Several hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Montrose Environmental Group in the 3rd quarter valued at about $32,000. Canada Pension Plan Investment Board boosted its position in Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after purchasing an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Montrose Environmental Group by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Montrose Environmental Group in the fourth quarter valued at approximately $75,000. Finally, Assetmark Inc. purchased a new stake in shares of Montrose Environmental Group in the fourth quarter valued at approximately $84,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

About Montrose Environmental Group

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.