Montrose Environmental Group (NYSE:ONT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Montrose Environmental Group (NYSE:ONT) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

ONT has been the topic of a number of other research reports. Barclays raised their target price on Montrose Environmental Group from $15.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday. Bank of America lowered Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a research note on Thursday, August 6th. Weiss Ratings cut 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 target price on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, Needham & Company LLC lowered their target price on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $18.50.

Montrose Environmental Group Trading Up 7.1%

ONT opened at $23.47 on Friday. The stock has a market capitalization of $824.27 million, a price-to-earnings ratio of -78.23, a P/E/G ratio of 1.66 and a beta of 1.80. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.84. Montrose Environmental Group has a twelve month low of $12.26 and a twelve month high of $30.00. The company has a 50-day simple moving average of $15.88 and a 200 day simple moving average of $19.26.

Montrose Environmental Group (NYSE:ONT) last released its earnings results on Wednesday, November 4th. The company reported $0.56 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 analyst estimates of $201.10 million. Montrose Environmental Group had a negative net margin of 1.40% and a positive return on equity of 5.46%. Analysts predict that Montrose Environmental Group will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ONT. Hillsdale Investment Management Inc. increased its position in 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 worth $252,000 after buying an additional 11,200 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Montrose Environmental Group by 5.2% in the first quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after buying an additional 66,543 shares during the period. Fifth Third Bancorp purchased a new position in shares of Montrose Environmental Group during the 1st quarter valued at $201,000. Finally, Hsbc Holdings PLC lifted its position in shares of Montrose Environmental Group by 41.9% during the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock valued at $328,000 after buying an additional 4,493 shares during the last quarter. 87.87% of the stock is currently 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 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.