Montrose Environmental Group (NYSE:ONT) Upgraded by Zacks Research to Hold Rating

Montrose Environmental Group (NYSE:ONT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on ONT. Needham & Company LLC reduced their price target 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Finally, Barclays reduced their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.67.

Montrose Environmental Group Stock Performance

Shares of NYSE:ONT opened at $16.53 on Tuesday. The company has a market capitalization of $597.39 million, a price-to-earnings ratio of 330.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.72. Montrose Environmental Group has a 52 week low of $14.13 and a 52 week high of $32.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $19.38 and a 200 day moving average of $22.84.

Insider Activity

In related news, CFO Allan Dicks acquired 6,535 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $15.36 per share, with a total value of $100,377.60. Following the completion of the acquisition, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at $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 is accessible through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the sale, the chief executive officer directly owned 236,788 shares in the company, valued at $6,016,783.08. This trade represents a 16.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new stake in Montrose Environmental Group in the fourth quarter valued at $1,382,000. Tudor Investment Corp ET AL purchased a new stake in Montrose Environmental Group in the third quarter valued at $3,979,000. Allspring Global Investments Holdings LLC purchased a new stake in Montrose Environmental Group in the fourth quarter valued at $10,140,000. Fisher Asset Management LLC boosted its holdings in Montrose Environmental Group by 18.0% in the third quarter. Fisher Asset Management LLC now owns 257,872 shares of the company’s stock valued at $7,081,000 after purchasing an additional 39,331 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Montrose Environmental Group by 160.6% in the third quarter. GSA Capital Partners LLP now owns 66,732 shares of the company’s stock valued at $1,832,000 after purchasing an additional 41,125 shares during the last quarter. 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.