Brokerages Set Montrose Environmental Group, Inc. (NYSE:ONT) Price Target at $32.33

Montrose Environmental Group, Inc. (NYSE:ONT) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $32.3333.

Several research analysts recently weighed in on the company. Needham & Company LLC dropped 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. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Zacks Research lowered Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th.

Insider Buying and Selling

In other Montrose Environmental Group news, General Counsel Nasym Afsari sold 43,348 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $28.37, for a total value of $1,229,782.76. Following the transaction, the general counsel directly owned 204,878 shares of the company’s stock, valued at $5,812,388.86. This represents a 17.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vijay Manthripragada sold 46,121 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.41, for a total value of $1,171,934.61. Following the completion of the transaction, the chief executive officer directly owned 236,788 shares in the company, valued at approximately $6,016,783.08. The trade was a 16.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 107,527 shares of company stock worth $2,908,583. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Montrose Environmental Group in the 3rd quarter worth about $32,000. Canada Pension Plan Investment Board increased its position 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 worth $42,000 after purchasing an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC increased its position in 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 worth $68,000 after purchasing an additional 1,508 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Montrose Environmental Group in the 4th quarter worth about $75,000. Finally, Assetmark Inc. acquired a new position in Montrose Environmental Group in the 4th quarter worth about $84,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Stock Down 0.1%

NYSE:ONT opened at $15.18 on Monday. The firm has a market capitalization of $548.61 million, a price-to-earnings ratio of 303.66, a PEG ratio of 1.41 and a beta of 1.83. Montrose Environmental Group has a 1-year low of $14.89 and a 1-year high of $32.00. 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 business’s fifty day moving average price is $21.66 and its 200 day moving average price is $23.74.

Montrose Environmental Group (NYSE:ONT) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a return on equity of 5.61% and a net margin of 0.71%.Montrose Environmental Group’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.90) earnings per share. On average, sell-side analysts forecast that Montrose Environmental Group will post 0.57 earnings per share for the current fiscal year.

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.