Montrose Environmental Group (NYSE:ONT) Price Target Lowered to $19.00 at Barclays

Montrose Environmental Group (NYSE:ONT) had its price objective dropped by Barclays from $40.00 to $19.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 21.95% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Zacks Research cut shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.67.

Montrose Environmental Group Price Performance

ONT traded up $0.27 during trading on Monday, hitting $15.58. The company’s stock had a trading volume of 106,367 shares, compared to its average volume of 398,021. The firm has a market capitalization of $563.06 million, a price-to-earnings ratio of 311.66, a P/E/G ratio of 1.42 and a beta of 1.83. Montrose Environmental Group has a twelve month low of $14.89 and a twelve month high of $32.00. The business’s fifty day simple moving average is $21.66 and its 200 day simple moving average is $23.71. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76.

Montrose Environmental Group (NYSE:ONT) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a return on equity of 5.61% and a net margin of 0.71%.The business had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. During the same period in the prior year, the company posted ($0.90) EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Montrose Environmental Group will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 46,121 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.41, for a total value of $1,171,934.61. Following the completion of the sale, the chief executive officer directly owned 236,788 shares of the company’s stock, valued at $6,016,783.08. This trade represents a 16.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Thomas Presby sold 10,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $28.87, for a total transaction of $288,700.00. Following the transaction, the director directly owned 62,614 shares in the company, valued at approximately $1,807,666.18. The trade was a 13.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 107,527 shares of company stock worth $2,908,583 over the last quarter. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Montrose Environmental Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in Montrose Environmental Group in the third quarter valued at approximately $32,000. Canada Pension Plan Investment Board increased its stake in Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC raised its position 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 during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Montrose Environmental Group in the fourth quarter valued at $75,000. Finally, Assetmark Inc. acquired a new position in shares of Montrose Environmental Group in the 4th quarter valued at $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.