Montrose Environmental Group (NYSE:ONT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Montrose Environmental Group (NYSE:ONT) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

A number of other research firms also recently issued reports on ONT. Barclays boosted their target price on shares of Montrose Environmental Group from $15.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday. Needham & Company LLC cut their price objective on shares of Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Weiss Ratings downgraded Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. decreased their target price on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Finally, Bank of America downgraded Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $18.50.

Montrose Environmental Group Price Performance

Shares of NYSE ONT opened at $22.08 on Friday. Montrose Environmental Group has a twelve month low of $12.26 and a twelve month high of $30.00. The firm has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $19.25. The company has a market capitalization of $775.45 million, a PE ratio of -73.60, a P/E/G ratio of 2.25 and a beta of 1.80. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.84.

Montrose Environmental Group (NYSE:ONT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $203.04 million for the quarter, compared to analysts’ expectations of $201.10 million. On average, sell-side analysts forecast that Montrose Environmental Group will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ONT. Principal Financial Group Inc. grew its holdings in shares of Montrose Environmental Group by 5.2% during the first quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after buying an additional 66,543 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Montrose Environmental Group by 41.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after acquiring an additional 4,493 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in Montrose Environmental Group by 3,733.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $252,000 after acquiring an additional 11,200 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in Montrose Environmental Group in the 1st quarter valued at about $201,000. Institutional investors and hedge funds 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.