Montrose Environmental Group (NYSE:ONT) Stock Rating Lowered by Wall Street Zen

Montrose Environmental Group (NYSE:ONT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

ONT has been the subject of a number of other reports. Needham & Company LLC reduced their target price on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Barclays cut their price objective 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. Zacks Research upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.00.

Montrose Environmental Group Price Performance

Shares of NYSE:ONT opened at $20.93 on Friday. The firm’s 50 day moving average price is $17.84 and its 200-day moving average price is $21.31. Montrose Environmental Group has a twelve month low of $14.13 and a twelve month high of $32.00. 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 market capitalization of $756.41 million, a PE ratio of 418.68, a price-to-earnings-growth ratio of 1.53 and a beta of 1.67.

Insider Activity at Montrose Environmental Group

In other news, Director Peter Graham acquired 25,140 shares of Montrose Environmental Group stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $17.19 per share, with a total value of $432,156.60. Following the completion of the purchase, the director directly owned 256,689 shares in the company, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 price of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the transaction, the chief financial officer directly owned 218,178 shares in the company, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 36,535 shares of company stock worth $610,003 in the last ninety days. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. increased its stake in Montrose Environmental Group by 3,733.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock worth $252,000 after buying an additional 11,200 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Montrose Environmental Group by 5.2% in the first quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after acquiring an additional 66,543 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Montrose Environmental Group in the first quarter valued at about $201,000. Hsbc Holdings PLC boosted its stake in shares of Montrose Environmental Group by 41.9% in the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after acquiring an additional 4,493 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Montrose Environmental Group by 16.8% in the first quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock worth $1,828,000 after acquiring an additional 12,040 shares during the period. Institutional investors 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.