Wall Street Zen Upgrades Montrose Environmental Group (NYSE:ONT) to Hold

Montrose Environmental Group (NYSE:ONT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other analysts have also recently commented on ONT. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barclays reduced their price objective on shares of 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. JPMorgan Chase & Co. lowered their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Finally, Needham & Company LLC cut their target price 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. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.00.

Montrose Environmental Group Stock Up 0.7%

Shares of Montrose Environmental Group stock opened at $19.79 on Friday. The business has a fifty day simple moving average of $18.33 and a 200 day simple moving average of $21.07. The stock has a market cap of $715.21 million, a PE ratio of 395.88, a price-to-earnings-growth ratio of 1.44 and a beta of 1.67. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Montrose Environmental Group has a 12 month low of $14.13 and a 12 month high of $32.00.

Insider Buying and Selling 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 shares were acquired at an average cost of $17.19 per share, with a total value of $432,156.60. Following the transaction, the director owned 256,689 shares of the company’s stock, valued at $4,412,483.91. The trade was a 10.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Allan Dicks bought 6,535 shares of Montrose Environmental Group stock in a transaction that occurred on Monday, May 11th. The stock was bought 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 in the company, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 36,535 shares of company stock valued at $610,003 in the last three months. 10.40% of the stock is owned by insiders.

Institutional Trading of Montrose Environmental Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in shares of Montrose Environmental Group during the third quarter worth about $32,000. Canada Pension Plan Investment Board lifted its stake in Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after acquiring an additional 1,600 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Montrose Environmental Group in the 4th quarter valued at approximately $75,000. Tower Research Capital LLC TRC boosted its position in Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Assetmark Inc. acquired a new position in Montrose Environmental Group during the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

About Montrose Environmental Group

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.