Montrose Environmental Group, Inc. (NYSE:ONT – Get Free Report)’s share price traded down 6.1% during trading on Thursday . The stock traded as low as $15.96 and last traded at $15.98. 117,213 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 540,872 shares. The stock had previously closed at $17.02.
Analysts Set New Price Targets
A number of analysts have commented on the company. Needham & Company LLC reduced their price objective on 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. Bank of America lowered Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research note on Thursday, August 6th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Finally, Barclays reissued an “equal weight” rating and issued a $15.00 price target (down from $19.00) on shares of Montrose Environmental Group in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Montrose Environmental Group presently has a consensus rating of “Reduce” and a consensus target price of $19.50.
Get Our Latest Research Report on ONT
Montrose Environmental Group Stock Performance
Montrose Environmental Group (NYSE:ONT – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.43. The business had revenue of $186.66 million for the quarter, compared to analyst estimates of $179.69 million. Montrose Environmental Group had a negative net margin of 1.44% and a positive return on equity of 4.11%. Equities analysts forecast that Montrose Environmental Group, Inc. will post 0.74 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of ONT. Principal Financial Group Inc. increased its holdings in 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 in the last quarter. Legal & General Group Plc grew its holdings in shares of Montrose Environmental Group by 3.7% during the fourth quarter. Legal & General Group Plc now owns 638,630 shares of the company’s stock worth $15,857,000 after purchasing an additional 22,711 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Montrose Environmental Group by 36.7% in the fourth quarter. Fisher Asset Management LLC now owns 352,569 shares of the company’s stock valued at $8,754,000 after buying an additional 94,697 shares in the last quarter. OP Asset Management Ltd bought a new position in shares of Montrose Environmental Group in the first quarter valued at about $3,418,000. Finally, CenterBook Partners LP lifted its position in Montrose Environmental Group by 17.6% during the 4th quarter. CenterBook Partners LP now owns 110,820 shares of the company’s stock worth $2,752,000 after buying an additional 16,611 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.
About Montrose Environmental Group
Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, governmental and other organizations address environmental compliance, pollution control and sustainability challenges. Its services support clients throughout the life cycle of environmental projects, from assessment and permitting to monitoring, remediation and long-term management.
The company provides environmental measurement and analysis, air quality and emissions monitoring, environmental consulting, regulatory compliance support, emergency response, site investigation and remediation services.
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