Montrose Environmental Group (NYSE:ONT) Lowered to “Sell” Rating by Wall Street Zen

Montrose Environmental Group (NYSE:ONT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

ONT has been the topic of a number of other research reports. Zacks Research upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Barclays cut their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Needham & Company LLC decreased their price objective on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.00.

Montrose Environmental Group Stock Performance

NYSE:ONT opened at $20.93 on Friday. 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 50-day moving average price of $17.84 and a two-hundred day moving average price of $21.35. Montrose Environmental Group has a twelve month low of $14.13 and a twelve month high of $32.00. The company has a market capitalization of $756.41 million, a P/E ratio of 418.68, a price-to-earnings-growth ratio of 1.60 and a beta of 1.67.

Insider Activity at Montrose Environmental Group

In other news, CFO Allan Dicks acquired 6,535 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $15.36 per share, with a total value of $100,377.60. Following the completion of the transaction, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at $3,351,214.08. The trade was a 3.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Graham acquired 25,140 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the purchase, the director directly owned 256,689 shares of the company’s stock, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 36,535 shares of company stock valued at $610,003 in the last ninety days. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its stake in shares of Montrose Environmental Group by 3,407.7% in the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock worth $28,080,000 after acquiring an additional 1,246,199 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Montrose Environmental Group by 128.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after purchasing an additional 975,770 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Montrose Environmental Group during the 4th quarter valued at approximately $10,140,000. Marshall Wace LLP grew its stake in Montrose Environmental Group by 245.0% during the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after purchasing an additional 272,444 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Montrose Environmental Group by 14.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock worth $36,192,000 after purchasing an additional 179,855 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

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.