Montrose Environmental Group (NYSE:ONT) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Montrose Environmental Group (NYSE:ONT) from a strong sell rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on ONT. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Barclays reduced their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Finally, Needham & Company LLC reduced their target price on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Montrose Environmental Group currently has a consensus rating of “Hold” and an average target price of $26.67.

Montrose Environmental Group Stock Up 5.2%

NYSE:ONT opened at $16.53 on Tuesday. Montrose Environmental Group has a 12-month low of $14.13 and a 12-month 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 market capitalization of $597.39 million, a P/E ratio of 330.67, a P/E/G ratio of 1.17 and a beta of 1.72. The stock’s fifty day simple moving average is $19.38 and its 200-day simple moving average is $22.84.

Insider Buying and Selling at Montrose Environmental Group

In related news, CFO Allan Dicks bought 6,535 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $15.36 per share, with a total value of $100,377.60. Following the completion of the transaction, the chief financial officer owned 218,178 shares in the company, valued at $3,351,214.08. The trade was a 3.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of Montrose Environmental Group stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.41, for a total value of $1,171,934.61. Following the completion of the sale, the chief executive officer directly owned 236,788 shares in the company, valued at approximately $6,016,783.08. This represents a 16.30% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 10.40% of the company’s stock.

Institutional Trading of Montrose Environmental Group

A number of hedge funds and other institutional investors have recently modified their holdings of ONT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after acquiring an additional 780 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Montrose Environmental Group by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after acquiring an additional 92,671 shares during the last quarter. Rhumbline Advisers increased its position in shares of Montrose Environmental Group by 27.9% in the second quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock valued at $1,262,000 after acquiring an additional 12,566 shares during the last quarter. Invesco Ltd. increased its position in shares of Montrose Environmental Group by 13.1% in the second quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock valued at $3,329,000 after acquiring an additional 17,601 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Montrose Environmental Group by 245.0% in the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after acquiring an additional 272,444 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

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.