Montrose Environmental Group, Inc. (NYSE:ONT) Receives Average Recommendation of “Reduce” from Analysts

Montrose Environmental Group, Inc. (NYSE:ONT) has been assigned an average recommendation of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two equities 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.

Several research analysts have weighed in on the company. Needham & Company LLC dropped their price target on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Barclays reissued an “equal weight” rating and issued a $15.00 target price (down from $19.00) on shares of Montrose Environmental Group in a report on Friday, August 7th. Weiss Ratings upgraded shares of Montrose Environmental Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 13th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Montrose Environmental Group in the fourth quarter valued at about $75,000. Hsbc Holdings PLC lifted its holdings in shares of Montrose Environmental Group by 41.9% during the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after purchasing an additional 4,493 shares during the period. Fifth Third Bancorp purchased a new stake in Montrose Environmental Group in the first quarter valued at approximately $201,000. Hillsdale Investment Management Inc. boosted its position in Montrose Environmental Group by 3,733.3% in the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $252,000 after buying an additional 11,200 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in Montrose Environmental Group by 16.8% in the first quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock valued at $1,828,000 after buying an additional 12,040 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

NYSE ONT opened at $17.63 on Friday. Montrose Environmental Group has a 12 month low of $12.68 and a 12 month high of $30.90. The stock has a market cap of $619.11 million, a price-to-earnings ratio of -53.42, a PEG ratio of 1.80 and a beta of 1.65. The company’s 50 day moving average is $18.34 and its two-hundred day moving average is $19.54. 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 (NYSE:ONT) last released its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.43. The firm had revenue of $186.66 million during the quarter, compared to analysts’ expectations of $179.69 million. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%. As a group, research analysts anticipate that Montrose Environmental Group will post 0.74 earnings per share for the current year.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, governmental and other organizations address environmental compliance, pollution control and sustainability challenges. Its services support clients throughout the life cycle of environmental projects, from assessment and permitting to monitoring, remediation and long-term management.

The company provides environmental measurement and analysis, air quality and emissions monitoring, environmental consulting, regulatory compliance support, emergency response, site investigation and remediation services.