Montrose Environmental Group (NYSE:ONT) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Montrose Environmental Group (NYSE:ONT) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Needham & Company LLC increased their target price on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen cut Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $34.67.

Montrose Environmental Group Stock Up 3.8%

Shares of NYSE ONT opened at $22.13 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.43 and a current ratio of 1.43. Montrose Environmental Group has a 52 week low of $14.87 and a 52 week high of $32.00. The stock has a market capitalization of $800.44 million, a P/E ratio of -92.20, a PEG ratio of 1.98 and a beta of 1.83. The stock’s fifty day moving average is $23.20 and its 200 day moving average is $24.34.

Montrose Environmental Group (NYSE:ONT) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $193.27 million for the quarter, compared to analysts’ expectations of $186.24 million. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.90) earnings per share. Sell-side analysts forecast that Montrose Environmental Group will post 0.57 earnings per share for the current fiscal year.

Insider Activity at Montrose Environmental Group

In other news, insider Jose Revuelta sold 7,858 shares of Montrose Environmental Group stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.00, for a total transaction of $212,166.00. Following the completion of the transaction, the insider directly owned 269,282 shares in the company, valued at $7,270,614. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Thomas Presby sold 10,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $28.87, for a total transaction of $288,700.00. Following the transaction, the director owned 62,614 shares in the company, valued at approximately $1,807,666.18. This trade represents a 13.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 107,527 shares of company stock worth $2,908,583 over the last quarter. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in shares of Montrose Environmental Group in the third quarter worth about $32,000. Canada Pension Plan Investment Board increased 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 worth $42,000 after acquiring an additional 1,600 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Montrose Environmental Group in the fourth quarter valued at approximately $75,000. Tower Research Capital LLC TRC raised its stake in Montrose Environmental Group by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Assetmark Inc. purchased a new position in Montrose Environmental Group in the 4th quarter worth approximately $84,000. 87.87% of the stock is owned by institutional investors.

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.