Montrose Environmental Group (NYSE:ONT) Stock Price Expected to Rise, Barclays Analyst Says

Montrose Environmental Group (NYSE:ONT) had its target price boosted by research analysts at Barclays from $15.00 to $19.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential downside of 7.18% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Weiss Ratings cut Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 22nd. Wall Street Zen cut Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price target on shares of Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Bank of America downgraded 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, August 6th. Finally, Needham & Company LLC dropped their price target on 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 equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $18.50.

Montrose Environmental Group Stock Up 5.4%

Shares of ONT stock traded up $1.05 during mid-day trading on Friday, hitting $20.47. The company’s stock had a trading volume of 376,569 shares, compared to its average volume of 569,615. Montrose Environmental Group has a 52-week low of $12.26 and a 52-week high of $30.00. The business has a 50-day moving average price of $15.64 and a 200 day moving average price of $19.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market cap of $718.91 million, a price-to-earnings ratio of -68.23, a PEG ratio of 1.66 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, topping the consensus estimate of $0.23 by $0.33. Montrose Environmental Group had a negative net margin of 1.40% and a positive return on equity of 5.46%. The company had revenue of $203.04 million for the quarter, compared to analysts’ expectations of $201.10 million. Research analysts predict that Montrose Environmental Group will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Montrose Environmental Group

Several institutional investors have recently made changes to their positions in 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 valued at $29,470,000 after purchasing an additional 66,543 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Montrose Environmental Group in the 1st quarter worth about $201,000. Hsbc Holdings PLC lifted its stake in Montrose Environmental Group by 41.9% in the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after purchasing an additional 4,493 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in 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 purchasing an additional 11,200 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

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.