Montrose Environmental Group (NYSE:ONT) Shares Up 4.2% – Should You Buy?

Montrose Environmental Group, Inc. (NYSE:ONT) rose 4.2% on Friday . The company traded as high as $17.04 and last traded at $17.04. 56,549 shares were traded during trading, a decline of 90% from the average daily volume of 544,769 shares. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

Several research firms recently commented on ONT. JPMorgan Chase & Co. cut their target price on Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Bank of America cut Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a report on Thursday, August 6th. Needham & Company LLC lowered their target price on shares of Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings downgraded shares of Montrose Environmental Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $19.50.

Montrose Environmental Group Stock Performance

The company has a market capitalization of $596.34 million, a P/E ratio of -51.45, a P/E/G ratio of 1.70 and a beta of 1.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.00 and a quick ratio of 2.00. The stock’s 50 day simple moving average is $18.94 and its two-hundred day simple moving average is $20.15.

Montrose Environmental Group (NYSE:ONT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.08 by $0.43. The business had revenue of $186.66 million for the quarter, compared to analysts’ expectations of $179.69 million. Montrose Environmental Group had a negative net margin of 1.44% and a positive return on equity of 4.11%. As a group, research analysts expect that Montrose Environmental Group, Inc. will post 0.74 earnings per share for the current year.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, Director Peter Graham bought 25,140 shares of the business’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $17.19 per share, for a total transaction of $432,156.60. Following the transaction, the director 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors and hedge funds have recently modified their holdings of ONT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $269,000 after acquiring an additional 780 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Montrose Environmental Group by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock worth $4,663,000 after purchasing an additional 92,671 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Montrose Environmental Group by 27.9% during the second quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock worth $1,262,000 after purchasing an additional 12,566 shares during the period. Invesco Ltd. increased its holdings in Montrose Environmental Group by 13.1% in the second quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock valued at $3,329,000 after purchasing an additional 17,601 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Montrose Environmental Group by 245.0% in the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after buying an additional 272,444 shares during the period. 87.87% of the stock is owned by institutional investors.

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.