Barclays Issues Positive Forecast for Montrose Environmental Group (NYSE:ONT) Stock Price

Montrose Environmental Group (NYSE:ONT) had its target price boosted by Barclays from $15.00 to $19.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on ONT. Wall Street Zen cut shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Needham & Company LLC cut 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 note on Friday, August 7th. Weiss Ratings lowered shares of Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. Bank of America cut shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lowered 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 research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $18.50.

Montrose Environmental Group Stock Up 13.7%

ONT stock traded up $2.66 on Friday, hitting $22.08. 984,974 shares of the company’s stock were exchanged, compared to its average volume of 613,869. The firm has a 50 day moving average price of $15.76 and a two-hundred day moving average price of $19.25. Montrose Environmental Group has a 12-month low of $12.26 and a 12-month high of $30.00. The stock has a market cap of $775.45 million, a P/E ratio of -73.60, a price-to-earnings-growth ratio of 1.62 and a beta of 1.80. 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 released 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. The company had revenue of $203.04 million during the quarter, compared to analysts’ expectations of $201.10 million. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%. As a group, equities research analysts expect that Montrose Environmental Group will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors and hedge funds have recently modified their holdings of ONT. Hillsdale Investment Management Inc. raised its position in Montrose Environmental Group by 3,733.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock worth $252,000 after buying an additional 11,200 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Montrose Environmental Group by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after acquiring an additional 66,543 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Montrose Environmental Group in the first quarter worth $201,000. Finally, Hsbc Holdings PLC increased 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 acquiring an additional 4,493 shares during the period. 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.