Montrose Environmental Group (NYSE:ONT) Sets New 12-Month Low – Time to Sell?

Montrose Environmental Group, Inc. (NYSE:ONT)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $14.27 and last traded at $14.36, with a volume of 1165529 shares changing hands. The stock had previously closed at $15.37.

Analysts Set New Price Targets

Several research firms recently issued reports on ONT. Needham & Company LLC reduced their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Zacks Research lowered Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Finally, Barclays reduced their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Montrose Environmental Group presently has an average rating of “Hold” and a consensus price target of $26.67.

Montrose Environmental Group Trading Down 6.6%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a 50-day moving average of $21.18 and a 200-day moving average of $23.54. The firm has a market capitalization of $518.97 million, a P/E ratio of 287.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.83.

Montrose Environmental Group (NYSE:ONT) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a return on equity of 5.61% and a net margin of 0.71%.The business had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. During the same quarter last year, the business posted ($0.90) EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Montrose Environmental Group, Inc. will post 0.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 46,121 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.41, for a total value of $1,171,934.61. Following the completion of the sale, the chief executive officer owned 236,788 shares in the company, valued at approximately $6,016,783.08. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Allan Dicks acquired 6,535 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $15.36 per share, with a total value of $100,377.60. Following the acquisition, the chief financial officer owned 218,178 shares in the company, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 107,527 shares of company stock worth $2,908,583. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in shares of Montrose Environmental Group in the 3rd quarter valued at approximately $32,000. Canada Pension Plan Investment Board lifted its stake in shares of Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after purchasing an additional 1,600 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Montrose Environmental Group in the 4th quarter valued at approximately $75,000. Finally, Assetmark Inc. purchased a new position in shares of Montrose Environmental Group in the 4th quarter valued at approximately $84,000. Hedge funds and other 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.