Brokerages Set Montrose Environmental Group, Inc. (NYSE:ONT) Price Target at $23.00

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research 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 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.00.

A number of brokerages have recently weighed in on ONT. JPMorgan Chase & Co. dropped their price objective on Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Wall Street Zen raised Montrose Environmental Group from a “sell” rating to a “hold” rating in a research note on Sunday. Barclays lowered their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Needham & Company LLC dropped their target price on 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. Finally, Zacks Research upgraded shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd.

Insider Activity at Montrose Environmental Group

In other Montrose Environmental Group news, CFO Allan Dicks acquired 6,535 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the acquisition, the chief financial officer owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Graham acquired 25,140 shares of the company’s stock in a transaction that occurred 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 acquisition, the director directly owned 256,689 shares of the company’s stock, valued at approximately $4,412,483.91. This represents a 10.86% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 36,535 shares of company stock valued at $610,003. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new stake in shares of Montrose Environmental Group during the fourth quarter worth $1,382,000. Tudor Investment Corp ET AL purchased a new position in Montrose Environmental Group in the third quarter valued at $3,979,000. Allspring Global Investments Holdings LLC purchased a new position in Montrose Environmental Group in the fourth quarter valued at $10,140,000. Fisher Asset Management LLC grew its stake in Montrose Environmental Group by 36.7% during the 4th quarter. Fisher Asset Management LLC now owns 352,569 shares of the company’s stock worth $8,754,000 after purchasing an additional 94,697 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Montrose Environmental Group by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock worth $49,328,000 after purchasing an additional 57,437 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Up 0.7%

Shares of NYSE ONT opened at $19.79 on Friday. The firm has a market cap of $715.21 million, a price-to-earnings ratio of 395.88, a PEG ratio of 1.44 and a beta of 1.67. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Montrose Environmental Group has a 52-week low of $14.13 and a 52-week high of $32.00. The business’s 50 day moving average is $18.33 and its two-hundred day moving average is $21.07.

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.