Montrose Environmental Group, Inc. (NYSE:ONT) Given Average Rating of “Reduce” by Analysts

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have been assigned a consensus rating of “Reduce” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.50.

ONT has been the subject of several research analyst reports. Weiss Ratings lowered Montrose Environmental Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lowered 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. Needham & Company LLC dropped their target price on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Barclays restated an “equal weight” rating and set a $15.00 price target (down from $19.00) on shares of Montrose Environmental Group in a research note on Friday, August 7th. Finally, Wall Street Zen lowered shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd.

Insider Activity

In other Montrose Environmental Group news, Director Peter Graham bought 25,140 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the transaction, the director owned 256,689 shares of the company’s stock, valued at $4,412,483.91. This represents a 10.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Montrose Environmental Group by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock worth $261,000 after acquiring an additional 488 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Montrose Environmental Group by 2.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock valued at $497,000 after purchasing an additional 515 shares in the last quarter. CWM LLC increased its position in Montrose Environmental Group by 8.6% in the fourth quarter. CWM LLC now owns 8,324 shares of the company’s stock worth $207,000 after purchasing an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after purchasing an additional 780 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Montrose Environmental Group by 4.3% in the third quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock worth $740,000 after purchasing an additional 1,120 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Trading Down 0.1%

NYSE:ONT opened at $15.86 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. Montrose Environmental Group has a 12 month low of $12.68 and a 12 month high of $31.22. The company has a market cap of $557.00 million, a PE ratio of -48.06, a price-to-earnings-growth ratio of 1.63 and a beta of 1.66. The company has a 50 day simple moving average of $19.02 and a two-hundred day simple moving average of $20.36.

Montrose Environmental Group (NYSE:ONT) last announced its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.43. The business had revenue of $186.66 million during the quarter, compared to analyst estimates of $179.69 million. Montrose Environmental Group had a negative net margin of 1.44% and a positive return on equity of 4.11%. Research analysts forecast that Montrose Environmental Group will post 0.74 earnings per share for the current year.

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.