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

Montrose Environmental Group, Inc. (NYSE:ONT) has received a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One 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 price target among analysts that have updated their coverage on the stock in the last year is $26.6667.

A number of brokerages have issued reports on ONT. Barclays cut their price target on shares of 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. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Zacks Research upgraded shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC cut their price objective on shares of 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.

Montrose Environmental Group Trading Up 1.8%

Shares of Montrose Environmental Group stock opened at $20.41 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76. Montrose Environmental Group has a 12-month low of $14.13 and a 12-month high of $32.00. The firm has a market capitalization of $737.62 million, a price-to-earnings ratio of 408.28, a PEG ratio of 1.49 and a beta of 1.73. The firm’s 50 day simple moving average is $17.72 and its two-hundred day simple moving average is $21.83.

Insiders Place Their Bets

In other news, CFO Allan Dicks purchased 6,535 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the transaction, the chief financial officer owned 218,178 shares in the company, valued at $3,351,214.08. This represents a 3.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter Graham purchased 25,140 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 256,689 shares of the company’s stock, valued at $4,412,483.91. This trade represents a 10.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 36,535 shares of company stock worth $610,003 in the last quarter. Company insiders own 10.40% of the company’s stock.

Institutional Trading of Montrose Environmental Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in Montrose Environmental Group during the third quarter valued at $32,000. Canada Pension Plan Investment Board grew its position in Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after buying an additional 1,600 shares during the period. Tower Research Capital LLC TRC grew its position in Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after buying an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Montrose Environmental Group in the 4th quarter valued at $75,000. Finally, Assetmark Inc. acquired a new stake in Montrose Environmental Group in the 4th quarter valued at $84,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

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.