Montrose Environmental Group (NYSE:ONT – Get Free Report) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $18.00 price objective on the stock. Bank of America‘s price target would suggest a potential downside of 21.05% from the company’s previous close.
ONT has been the subject of a number of other research reports. Barclays reduced their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Needham & Company LLC dropped their price objective 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. JPMorgan Chase & Co. decreased their price target on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Finally, Wall Street Zen lowered shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.75.
Read Our Latest Stock Analysis on Montrose Environmental Group
Montrose Environmental Group Stock Performance
Insiders Place Their Bets
In other Montrose Environmental Group news, CFO Allan Dicks purchased 6,535 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price 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 in the company, valued at $3,351,214.08. This trade represents a 3.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Graham purchased 25,140 shares of the stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the acquisition, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 36,535 shares of company stock valued at $610,003 in the last quarter. 10.40% of the stock is currently owned by insiders.
Institutional Trading of Montrose Environmental Group
Institutional investors have recently made changes to their positions in the stock. Bamco Inc. NY raised its holdings in Montrose Environmental Group by 2.5% during the second quarter. Bamco Inc. NY now owns 2,764,395 shares of the company’s stock worth $60,513,000 after purchasing an additional 68,713 shares in the last quarter. Vanguard Group Inc. boosted its stake in Montrose Environmental Group by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock valued at $49,328,000 after purchasing an additional 57,437 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Montrose Environmental Group by 128.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after purchasing an additional 975,770 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Montrose Environmental Group by 14.1% during 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 valued at $36,192,000 after purchasing an additional 179,855 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Montrose Environmental Group by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after purchasing an additional 66,543 shares during the period. 87.87% of the stock is owned by institutional investors and hedge funds.
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.
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