Montrose Environmental Group (NYSE:ONT) Sets New 12-Month Low – Time to Sell?

Montrose Environmental Group, Inc. (NYSE:ONT) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $14.27 and last traded at $14.36, with a volume of 1165529 shares trading hands. The stock had previously closed at $15.37.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ONT shares. Barclays lowered their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday. Zacks Research cut Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Finally, Needham & Company LLC lowered their target price on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Montrose Environmental Group has an average rating of “Hold” and an average target price of $26.67.

Montrose Environmental Group Trading Down 6.6%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $518.97 million, a P/E ratio of 287.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.83. The stock has a 50-day moving average of $21.18 and a two-hundred day moving average of $23.54.

Montrose Environmental Group (NYSE:ONT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a return on equity of 5.61% and a net margin of 0.71%.The company had revenue of $193.27 million during the quarter, compared to analyst estimates of $186.24 million. During the same quarter last year, the company earned ($0.90) EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Montrose Environmental Group, Inc. will post 0.57 earnings per share for the current year.

Insider Activity at Montrose Environmental Group

In related news, CFO Allan Dicks acquired 6,535 shares of Montrose Environmental Group stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 218,178 shares in the company, valued at approximately $3,351,214.08. This represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 236,788 shares of the company’s stock, valued at $6,016,783.08. This represents a 16.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 107,527 shares of company stock worth $2,908,583 over the last quarter. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Montrose Environmental Group

Several institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in shares of Montrose Environmental Group by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock valued at $261,000 after buying an additional 488 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Montrose Environmental Group by 2.3% during the second 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 during the last quarter. CWM LLC boosted its position in shares of Montrose Environmental Group by 8.6% during the fourth quarter. CWM LLC now owns 8,324 shares of the company’s stock valued at $207,000 after buying an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Montrose Environmental Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after buying an additional 780 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of Montrose Environmental Group by 0.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,430 shares of the company’s stock valued at $7,618,000 after buying an additional 786 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other 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.