Montrose Environmental Group, Inc. (NYSE:ONT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $26.6667.

A number of brokerages recently weighed in on ONT. Weiss Ratings reissued a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. 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 note on Friday, May 8th. Finally, Barclays dropped their price target on 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.

Insider Buying and Selling

In related news, CEO Vijay Manthripragada sold 46,121 shares of Montrose Environmental Group 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 transaction, the chief executive officer owned 236,788 shares of the company’s stock, valued at approximately $6,016,783.08. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Allan Dicks purchased 6,535 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the purchase, the chief financial officer directly owned 218,178 shares in the company, valued at $3,351,214.08. This represents a 3.09% increase in their position. The SEC filing for this purchase provides additional information. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB purchased a new position in Montrose Environmental Group during the 4th quarter valued at about $1,382,000. Tudor Investment Corp ET AL purchased a new position in Montrose Environmental Group during the 3rd quarter valued at about $3,979,000. Allspring Global Investments Holdings LLC purchased a new position in Montrose Environmental Group during the 4th quarter valued at about $10,140,000. Fisher Asset Management LLC grew its stake in Montrose Environmental Group by 18.0% during the 3rd quarter. Fisher Asset Management LLC now owns 257,872 shares of the company’s stock valued at $7,081,000 after acquiring an additional 39,331 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in Montrose Environmental Group by 160.6% during the 3rd quarter. GSA Capital Partners LLP now owns 66,732 shares of the company’s stock valued at $1,832,000 after acquiring an additional 41,125 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Up 5.8%

Shares of ONT opened at $17.45 on Friday. The business’s 50-day moving average price is $19.28 and its 200 day moving average price is $22.79. The stock has a market capitalization of $630.64 million, a P/E ratio of 349.07, a P/E/G ratio of 1.23 and a beta of 1.72. Montrose Environmental Group has a 1-year low of $14.13 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.

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.