Montrose Environmental Group, Inc. (NYSE:ONT) Receives Average Rating of “Hold” from Brokerages

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have received an average rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.00.

Several research analysts have weighed in on ONT shares. Wall Street Zen downgraded shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. 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 note on Friday, May 29th. Barclays dropped their price objective on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Finally, Needham & Company LLC cut their price objective on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th.

Insider Activity at Montrose Environmental Group

In other news, Director Peter Graham bought 25,140 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $17.19 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Allan Dicks bought 6,535 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $15.36 per share, with a total value of $100,377.60. Following the completion of the acquisition, 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 SEC filing for this purchase provides additional information. Insiders have bought a total of 36,535 shares of company stock worth $610,003 over the last ninety days. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of Montrose Environmental Group by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock worth $261,000 after buying an additional 488 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Montrose Environmental Group by 2.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock valued at $497,000 after buying an additional 515 shares in the last quarter. CWM LLC lifted its holdings in shares of Montrose Environmental Group by 8.6% in the 4th quarter. CWM LLC now owns 8,324 shares of the company’s stock valued at $207,000 after acquiring an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Montrose Environmental Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after acquiring an additional 780 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in Montrose Environmental Group by 4.3% in the third quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock worth $740,000 after acquiring an additional 1,120 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Up 5.7%

Shares of NYSE:ONT opened at $19.66 on Friday. The stock’s 50-day simple moving average is $18.24 and its two-hundred day simple moving average is $21.15. The stock has a market capitalization of $710.49 million, a price-to-earnings ratio of 393.28, a PEG ratio of 1.36 and a beta of 1.67. Montrose Environmental Group has a 52-week low of $14.13 and a 52-week high of $32.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84.

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.