Montrose Environmental Group, Inc. (NYSE:ONT) Receives $26.67 Average PT from Analysts

Montrose Environmental Group, Inc. (NYSE:ONT) has received a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings 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 twelve-month target price among brokers that have issued a report on the stock in the last year is $26.6667.

ONT has been the subject of several analyst reports. Needham & Company LLC decreased their price target on shares of 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. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research report 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. Finally, Barclays decreased their target price on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, May 18th.

Montrose Environmental Group Price Performance

NYSE ONT opened at $20.81 on Tuesday. 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 firm’s 50 day moving average price is $17.68 and its 200-day moving average price is $21.70. Montrose Environmental Group has a 52-week low of $14.13 and a 52-week high of $32.00. The company has a market cap of $752.07 million, a PE ratio of 416.28, a P/E/G ratio of 1.56 and a beta of 1.67.

Insider Buying and Selling at Montrose Environmental Group

In other Montrose Environmental Group news, Director Peter Graham purchased 25,140 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $17.19 per share, with a total value of $432,156.60. Following the completion of the acquisition, the director owned 256,689 shares in the company, valued at $4,412,483.91. The trade was a 10.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Allan Dicks acquired 6,535 shares of the business’s stock in a transaction dated 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 acquisition, the chief financial officer owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This represents a 3.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 36,535 shares of company stock worth $610,003. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ONT. Advisory Services Network LLC acquired a new position in Montrose Environmental Group in the 3rd quarter worth approximately $32,000. Canada Pension Plan Investment Board lifted its stake in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after acquiring an additional 1,600 shares during the period. Tower Research Capital LLC TRC lifted its stake in Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after acquiring an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Montrose Environmental Group during the 4th quarter valued at approximately $75,000. Finally, Assetmark Inc. purchased a new stake in shares of Montrose Environmental Group in the 4th quarter valued at $84,000. 87.87% of the stock is owned by institutional investors and hedge funds.

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.