Montrose Environmental Group’s (ONT) “Equal Weight” Rating Reaffirmed at Barclays

Barclays reiterated their equal weight rating on shares of Montrose Environmental Group (NYSE:ONT) in a report issued on Friday morning, MarketBeat reports. The firm currently has a $15.00 target price on the stock, down from their prior target price of $19.00.

A number of other equities research analysts have also commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. JPMorgan Chase & Co. lowered their price objective on Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Wall Street Zen lowered Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. 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, Needham & Company LLC dropped their target price on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $19.50.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock opened at $16.87 on Friday. The stock has a market cap of $609.68 million, a price-to-earnings ratio of -51.12, a P/E/G ratio of 1.10 and a beta of 1.66. Montrose Environmental Group has a twelve month low of $12.68 and a twelve month high of $31.22. The company’s fifty day moving average is $19.13 and its 200 day moving average is $20.82. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In related news, Director Peter Graham acquired 25,140 shares of the company’s stock in a transaction on 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 purchase, the director owned 256,689 shares in the company, valued at approximately $4,412,483.91. The trade was a 10.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Allan Dicks purchased 6,535 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price 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 of the company’s stock, valued at $3,351,214.08. The trade was a 3.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 36,535 shares of company stock valued at $610,003 over the last three months. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Montrose Environmental Group in the third quarter worth about $32,000. Canada Pension Plan Investment Board grew its holdings in shares of 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 raised its position in shares of Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after buying an additional 1,508 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Montrose Environmental Group during the fourth quarter worth about $75,000. Finally, Assetmark Inc. bought a new stake in Montrose Environmental Group in the 4th quarter worth approximately $84,000. Institutional investors own 87.87% of the company’s stock.

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.