Montrose Environmental Group, Inc. (NYSE:ONT) Receives Consensus Recommendation of “Hold” from Analysts

Montrose Environmental Group, Inc. (NYSE:ONT) has earned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.6667.

ONT has been the topic of a number of recent research reports. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Barclays cut their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Finally, Needham & Company LLC reduced their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th.

Montrose Environmental Group Trading Down 2.0%

Shares of NYSE:ONT traded down $0.44 during trading on Tuesday, hitting $21.64. 66,261 shares of the company’s stock were exchanged, compared to its average volume of 492,505. Montrose Environmental Group has a 1-year low of $14.13 and a 1-year high of $32.00. The firm has a 50-day moving average price of $17.71 and a two-hundred day moving average price of $21.63. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm has a market cap of $782.07 million, a P/E ratio of 432.89, a PEG ratio of 1.56 and a beta of 1.67.

Insider Transactions at Montrose Environmental Group

In related news, CFO Allan Dicks bought 6,535 shares of the business’s stock in a transaction on 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 purchase, the chief financial officer owned 218,178 shares of the company’s stock, valued at $3,351,214.08. This represents a 3.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter Graham bought 25,140 shares of Montrose Environmental Group stock in a transaction on Friday, June 5th. The shares were bought at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the acquisition, the director owned 256,689 shares of the company’s stock, valued at approximately $4,412,483.91. The trade was a 10.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 36,535 shares of company stock valued at $610,003 in the last quarter. 10.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in Montrose Environmental Group in the third quarter valued at approximately $32,000. Canada Pension Plan Investment Board boosted its position in shares of 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 purchasing an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after buying an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Montrose Environmental Group in the 4th 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 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.