Montrose Environmental Group (NYSE:ONT) Cut to “Underperform” at Bank of America

Bank of America cut shares of Montrose Environmental Group (NYSE:ONT) from a neutral rating to an underperform rating in a research report report published on Thursday, MarketBeat reports. Bank of America currently has $18.00 price objective on the stock.

Several other analysts have also issued reports on ONT. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barclays lowered their price objective on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Needham & Company LLC cut their price objective on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $19.50.

Montrose Environmental Group Trading Up 11.8%

NYSE ONT opened at $16.87 on Thursday. The stock’s 50-day simple moving average is $19.13 and its two-hundred day simple moving average is $20.82. Montrose Environmental Group has a twelve month low of $12.68 and a twelve month high of $31.22. 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 company has a market capitalization of $609.68 million, a price-to-earnings ratio of -51.12, a PEG ratio of 1.21 and a beta of 1.66.

Insider Buying and Selling at Montrose Environmental Group

In other news, CFO Allan Dicks bought 6,535 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the acquisition, the chief financial officer 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 acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter Graham bought 25,140 shares of Montrose Environmental Group stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the purchase, the director directly owned 256,689 shares of the company’s stock, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 36,535 shares of company stock valued at $610,003 in the last three months. 10.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new position in shares of Montrose Environmental Group during the third quarter valued at $32,000. Canada Pension Plan Investment Board boosted its stake in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after purchasing an additional 1,600 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Montrose Environmental Group during the 4th quarter valued at $75,000. Tower Research Capital LLC TRC increased its holdings in shares of Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Montrose Environmental Group in the 4th quarter worth $84,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

Montrose Environmental Group News Roundup

Here are the key news stories impacting Montrose Environmental Group this week:

• Positive Sentiment: Needham maintained a Buy rating while lowering its price target from $28 to $23. The revised target still implies approximately 36% upside from the referenced $16.87 level, providing a bullish counterpoint to the broader analyst caution. Benzinga article
• Neutral Sentiment: A Conestoga Capital Advisors investor letter described resilience at Montrose amid declining revenue and highlighted improving investor interest in small-cap stocks. However, the commentary is from an investment letter rather than a new company announcement or earnings report, so its immediate effect on ONT may be limited. Insider Monkey article
• Negative Sentiment: Barclays reduced its stance on Montrose from Strong Buy to Hold and lowered its price target from $19 to $15. The target now sits below the referenced share price, signaling limited near-term upside in Barclays’ view. Ticker Report article
• Negative Sentiment: Bank of America downgraded Montrose to Underperform, adding to the negative analyst sentiment surrounding the environmental-services company. American Banking News article
• Negative Sentiment: ONT reached a new 52-week low after the analyst downgrades, indicating that selling pressure intensified as investors reacted to the less favorable ratings and lower valuation targets. American Banking News article

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.