Barclays Lowers Montrose Environmental Group (NYSE:ONT) Price Target to $19.00

Montrose Environmental Group (NYSE:ONT) had its price target reduced by Barclays from $40.00 to $19.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 21.95% from the stock’s previous close.

Other analysts have also issued research reports about the company. Zacks Research lowered Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Needham & Company LLC lowered their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.67.

Montrose Environmental Group Trading Up 1.8%

Shares of ONT traded up $0.27 during trading on Monday, reaching $15.58. 106,367 shares of the company traded hands, compared to its average volume of 398,021. Montrose Environmental Group has a twelve month low of $14.89 and a twelve month high of $32.00. The stock has a market cap of $563.06 million, a PE ratio of 311.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.83. The stock has a 50-day simple moving average of $21.66 and a 200-day simple moving average of $23.71. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76.

Montrose Environmental Group (NYSE:ONT) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $193.27 million for the quarter, compared to the consensus estimate of $186.24 million. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.90) EPS. On average, analysts anticipate that Montrose Environmental Group will post 0.57 earnings per share for the current year.

Insider Transactions at Montrose Environmental Group

In related news, CFO Allan Dicks purchased 6,535 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the acquisition, the chief financial officer directly owned 218,178 shares in the company, valued at $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jose Revuelta sold 7,858 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.00, for a total value of $212,166.00. Following the completion of the sale, the insider directly owned 269,282 shares in the company, valued at $7,270,614. This represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 107,527 shares of company stock valued at $2,908,583 in the last 90 days. Insiders own 10.40% of the company’s stock.

Institutional Trading of Montrose Environmental Group

Hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its stake in Montrose Environmental Group by 3,407.7% in the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock worth $28,080,000 after acquiring an additional 1,246,199 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Montrose Environmental Group by 128.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after purchasing an additional 975,770 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Montrose Environmental Group in the 4th quarter valued at $10,140,000. Marshall Wace LLP lifted its position in shares of Montrose Environmental Group by 245.0% during the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after purchasing an additional 272,444 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Montrose Environmental Group by 14.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock worth $36,192,000 after purchasing an additional 179,855 shares during the last quarter. Institutional investors and hedge funds 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.