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

Montrose Environmental Group (NYSE:ONT) had its price target boosted by investment analysts at Barclays from $15.00 to $19.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 7.18% from the company’s current price.

A number of other analysts have also issued reports on ONT. JPMorgan Chase & Co. lowered their target price 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. Bank of America lowered shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a report on Thursday, August 6th. Wall Street Zen lowered shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Needham & Company LLC lowered their price objective on shares of Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. One research 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’s stock. According to MarketBeat.com, Montrose Environmental Group presently has an average rating of “Reduce” and an average price target of $18.50.

Montrose Environmental Group Trading Up 5.4%

Montrose Environmental Group stock traded up $1.05 during mid-day trading on Friday, hitting $20.47. The company’s stock had a trading volume of 376,569 shares, compared to its average volume of 569,615. The company has a 50 day moving average of $15.64 and a 200-day moving average of $19.25. The stock has a market cap of $718.91 million, a PE ratio of -68.23, a P/E/G ratio of 1.66 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 has a one year low of $12.26 and a one year high of $30.00.

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

Hedge Funds Weigh In On Montrose Environmental Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ONT. Principal Financial Group Inc. increased its stake 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 valued at $29,470,000 after buying an additional 66,543 shares during the period. Fifth Third Bancorp bought a new stake in shares of Montrose Environmental Group in the first quarter valued at about $201,000. Hsbc Holdings PLC raised its holdings 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 valued at $328,000 after acquiring an additional 4,493 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised 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 acquiring an additional 11,200 shares in the last quarter. 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.