Montrose Environmental Group (NYSE:ONT) Trading Down 6.1% – Should You Sell?

Montrose Environmental Group, Inc. (NYSE:ONT)’s stock price fell 6.1% during trading on Tuesday . The company traded as low as $15.62 and last traded at $15.62. 445,834 shares changed hands during trading, an increase of 5% from the average session volume of 424,675 shares. The stock had previously closed at $16.63.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ONT. Zacks Research cut Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. 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 report on Friday, May 8th. Finally, Barclays dropped their target price on 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. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.67.

Montrose Environmental Group Stock Performance

The stock has a market capitalization of $572.10 million, a PE ratio of 316.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.83. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average of $20.34 and a 200-day moving average of $23.29.

Montrose Environmental Group (NYSE:ONT) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $186.24 million. During the same quarter last year, the company earned ($0.90) EPS. Montrose Environmental Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Montrose Environmental Group, Inc. will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director J Thomas Presby sold 10,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $28.87, for a total value of $288,700.00. Following the sale, the director directly owned 62,614 shares in the company, valued at approximately $1,807,666.18. This trade represents a 13.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Allan Dicks acquired 6,535 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $15.36 per share, with a total value of $100,377.60. Following the completion of the transaction, the chief financial officer owned 218,178 shares in the company, valued at approximately $3,351,214.08. The trade was a 3.09% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 107,527 shares of company stock worth $2,908,583. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB purchased a new position in shares of Montrose Environmental Group in the 4th quarter valued at $1,382,000. Lisanti Capital Growth LLC acquired a new stake in Montrose Environmental Group during the 3rd quarter worth $2,803,000. Tudor Investment Corp ET AL purchased a new stake in Montrose Environmental Group in the third quarter valued at $3,979,000. Allspring Global Investments Holdings LLC acquired a new position in Montrose Environmental Group in the fourth quarter valued at $10,140,000. Finally, Fisher Asset Management LLC boosted its stake in Montrose Environmental Group by 18.0% in the third 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. Institutional investors and hedge funds own 87.87% of the company’s stock.

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.