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

Montrose Environmental Group (NYSE:ONT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

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

Montrose Environmental Group Trading Up 0.7%

NYSE ONT opened at $22.08 on Friday. The stock has a market cap of $775.38 million, a P/E ratio of -73.60, a price-to-earnings-growth ratio of 2.25 and a beta of 1.80. Montrose Environmental Group has a fifty-two week low of $12.26 and a fifty-two week high of $30.00. The stock has a 50 day simple moving average of $15.76 and a two-hundred day simple moving average of $19.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 2.00.

Montrose Environmental Group (NYSE:ONT) last posted its earnings results on Wednesday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.33. The firm had revenue of $203.04 million for the quarter, compared to analysts’ expectations of $201.10 million. Montrose Environmental Group had a positive return on equity of 5.46% and a negative net margin of 1.40%. On average, analysts forecast that Montrose Environmental Group will post 0.74 earnings per share for the current year.

Institutional Trading of Montrose Environmental Group

A number of hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. increased its stake in shares of 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 worth $252,000 after acquiring an additional 11,200 shares in the last quarter. Principal Financial Group Inc. boosted its stake in 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. Fifth Third Bancorp purchased a new stake in Montrose Environmental Group in the first quarter worth about $201,000. Finally, Hsbc Holdings PLC grew its holdings in 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 period. Institutional investors 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.