Zacks Research Upgrades Montrose Environmental Group (NYSE:ONT) to Hold

Montrose Environmental Group (NYSE:ONT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on ONT. Barclays reduced their price target on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Needham & Company LLC reduced their price target on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.67.

Montrose Environmental Group Stock Up 5.2%

Montrose Environmental Group stock opened at $16.53 on Tuesday. The stock has a market capitalization of $597.39 million, a PE ratio of 330.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.72. Montrose Environmental Group has a twelve month low of $14.13 and a twelve month high of $32.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $19.38 and a 200-day moving average of $22.84.

Insider Transactions at Montrose Environmental Group

In other news, insider Jose Revuelta sold 7,858 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.00, for a total value of $212,166.00. Following the sale, the insider owned 269,282 shares of the company’s stock, valued at $7,270,614. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the completion of the sale, the chief executive officer directly owned 236,788 shares in the company, valued at approximately $6,016,783.08. This represents a 16.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.40% of the stock is currently owned by insiders.

Institutional Trading of Montrose Environmental Group

A number of hedge funds and other institutional investors have recently modified their holdings of ONT. Advisory Services Network LLC acquired a new stake in shares of Montrose Environmental Group in the third quarter valued at about $32,000. Canada Pension Plan Investment Board grew its stake in Montrose Environmental Group by 533.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after purchasing an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Montrose Environmental Group by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in Montrose Environmental Group in the fourth quarter valued at approximately $75,000. Finally, Assetmark Inc. bought a new position in Montrose Environmental Group in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

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.