Montrose Environmental Group (NYSE:ONT) Trading 16.5% Higher – Here’s What Happened

Montrose Environmental Group, Inc. (NYSE:ONT) shares rose 16.5% on Friday . The stock traded as high as $17.61 and last traded at $17.58. Approximately 289,305 shares changed hands during trading, a decline of 43% from the average daily volume of 506,669 shares. The stock had previously closed at $15.09.

More Montrose Environmental Group News

Here are the key news stories impacting Montrose Environmental Group this week:

• Positive Sentiment: Needham maintained a Buy rating while lowering its price target from $28 to $23. The revised target still implies approximately 36% upside from the referenced $16.87 level, providing a bullish counterpoint to the broader analyst caution. Benzinga article
• Neutral Sentiment: A Conestoga Capital Advisors investor letter described resilience at Montrose amid declining revenue and highlighted improving investor interest in small-cap stocks. However, the commentary is from an investment letter rather than a new company announcement or earnings report, so its immediate effect on ONT may be limited. Insider Monkey article
• Negative Sentiment: Barclays reduced its stance on Montrose from Strong Buy to Hold and lowered its price target from $19 to $15. The target now sits below the referenced share price, signaling limited near-term upside in Barclays’ view. Ticker Report article
• Negative Sentiment: Bank of America downgraded Montrose to Underperform, adding to the negative analyst sentiment surrounding the environmental-services company. American Banking News article
• Negative Sentiment: ONT reached a new 52-week low after the analyst downgrades, indicating that selling pressure intensified as investors reacted to the less favorable ratings and lower valuation targets. American Banking News article

Wall Street Analyst Weigh In

ONT has been the subject of a number of recent analyst reports. Bank of America lowered Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a research report on Thursday. Wall Street Zen downgraded Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Barclays reiterated an “equal weight” rating and issued a $15.00 target price (down from $19.00) on shares of Montrose Environmental Group in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. Finally, 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 report on Friday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $19.50.

Montrose Environmental Group Trading Up 11.8%

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84. The company has a fifty day moving average of $19.13 and a 200-day moving average of $20.82. The firm has a market capitalization of $609.66 million, a PE ratio of -51.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.66.

Insider Transactions at Montrose Environmental Group

In other news, Director Peter Graham purchased 25,140 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $17.19 per share, with a total value of $432,156.60. Following the purchase, the director directly owned 256,689 shares of the company’s stock, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Allan Dicks purchased 6,535 shares of Montrose Environmental Group stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $15.36 per share, with a total value of $100,377.60. Following the completion of the acquisition, the chief financial officer owned 218,178 shares in the company, valued at $3,351,214.08. The trade was a 3.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 36,535 shares of company stock valued at $610,003 over the last ninety days. Company insiders own 10.40% of the company’s stock.

Institutional Trading of Montrose Environmental Group

A number of institutional investors have recently added to or reduced their stakes in ONT. Alliancebernstein L.P. raised its stake in shares of Montrose Environmental Group by 3,407.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock valued at $28,080,000 after acquiring an additional 1,246,199 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Montrose Environmental Group by 128.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock worth $43,030,000 after purchasing an additional 975,770 shares during the period. Marshall Wace LLP boosted its position in Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after purchasing an additional 272,444 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Montrose Environmental Group by 14.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock valued at $36,192,000 after purchasing an additional 179,855 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new position in Montrose Environmental Group during the first quarter valued at approximately $3,418,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

About Montrose Environmental Group

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.