Montrose Environmental Group (NYSE:ONT) Given “Equal Weight” Rating at Barclays

Montrose Environmental Group (NYSE:ONT)‘s stock had its “equal weight” rating reissued by stock analysts at Barclays in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $15.00 price target on the stock, down from their previous price target of $19.00. Barclays‘s target price would indicate a potential downside of 1.12% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Wall Street Zen lowered shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Monday. Needham & Company LLC lowered their price target on 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 upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Bank of America downgraded Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a report on Thursday. One investment 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 MarketBeat.com, Montrose Environmental Group currently has a consensus rating of “Reduce” and a consensus price target of $20.75.

Montrose Environmental Group Stock Performance

Shares of ONT stock opened at $15.17 on Friday. The company has a 50 day moving average price of $19.11 and a 200-day moving average price of $20.84. Montrose Environmental Group has a 52 week low of $12.68 and a 52 week high of $32.00. The firm has a market capitalization of $548.24 million, a PE ratio of -45.97, a P/E/G ratio of 1.66 and a beta of 1.66. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76.

Insider Activity at Montrose Environmental Group

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

Institutional Trading of Montrose Environmental Group

Institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its holdings in Montrose Environmental Group by 3,407.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock valued at $28,080,000 after buying an additional 1,246,199 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Montrose Environmental Group by 128.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after acquiring an additional 975,770 shares during the period. Marshall Wace LLP grew its holdings in Montrose Environmental Group by 245.0% during the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after purchasing an additional 272,444 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Montrose Environmental Group by 14.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock worth $36,192,000 after purchasing an additional 179,855 shares during the period. Finally, OP Asset Management Ltd bought a new stake in Montrose Environmental Group in the first quarter worth about $3,418,000. Hedge funds and other institutional investors 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.