Montrose Environmental Group (NYSE:ONT) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Montrose Environmental Group (NYSE:ONT) had its price objective cut by JPMorgan Chase & Co. from $16.00 to $14.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on ONT. Wall Street Zen cut Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Needham & Company LLC dropped their target price 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. Bank of America lowered shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research note on Thursday, August 6th. Barclays restated an “equal weight” rating and issued a $15.00 price target (down from $19.00) on shares of Montrose Environmental Group in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Montrose Environmental Group has a consensus rating of “Reduce” and an average price target of $17.50.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock opened at $13.84 on Thursday. The business has a 50-day moving average price of $16.62 and a two-hundred day moving average price of $18.39. Montrose Environmental Group has a 1-year low of $12.26 and a 1-year high of $30.90. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. The company has a market cap of $486.06 million, a P/E ratio of -41.94, a PEG ratio of 1.42 and a beta of 1.83.

Montrose Environmental Group (NYSE:ONT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.43. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%. The company had revenue of $186.66 million for the quarter, compared to the consensus estimate of $179.69 million. As a group, analysts anticipate that Montrose Environmental Group will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position 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 worth $29,470,000 after acquiring an additional 66,543 shares in the last quarter. OP Asset Management Ltd bought a new stake in Montrose Environmental Group during the 1st quarter worth approximately $3,418,000. Conestoga Capital Advisors LLC increased its holdings in Montrose Environmental Group by 16.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock worth $1,828,000 after purchasing an additional 12,040 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Montrose Environmental Group by 41.9% in the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after purchasing an additional 4,493 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Montrose Environmental Group by 3,733.3% in the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $252,000 after purchasing an additional 11,200 shares in the last quarter. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other clients address complex environmental challenges. Its services support regulatory compliance, pollution reduction, environmental risk management and the responsible use of natural resources.

The company provides services across environmental assessment, permitting and response; measurement and analysis; and remediation and reuse. Its capabilities include air quality consulting and emissions monitoring, laboratory and field testing, environmental compliance support, investigation and remediation of contaminated sites, water and wastewater services, and environmental planning and permitting.

Montrose serves clients across a range of industries and government markets, with operations and project work throughout the United States and select international locations.