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

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have received an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat reports. One 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 analysts that have issued a report on the stock in the last year is $26.6667.

ONT has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. 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 note on Friday, May 8th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. 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 note on Monday, May 18th.

Montrose Environmental Group Trading Up 2.0%

NYSE ONT opened at $17.03 on Friday. The firm has a market capitalization of $615.46 million, a PE ratio of 340.67, a P/E/G ratio of 1.24 and a beta of 1.72. The stock’s 50 day moving average is $18.97 and its 200 day moving average is $22.63. Montrose Environmental Group has a twelve month low of $14.13 and a twelve month high of $32.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In related news, Director Peter Graham acquired 25,140 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of Montrose Environmental Group stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.41, for a total value of $1,171,934.61. Following the transaction, the chief executive officer owned 236,788 shares of the company’s stock, valued at $6,016,783.08. The trade was a 16.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought a total of 36,535 shares of company stock valued at $610,003 over the last ninety days. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new position in Montrose Environmental Group during the third quarter valued at $32,000. Canada Pension Plan Investment Board raised its stake in Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after buying an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after buying an additional 1,508 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Montrose Environmental Group during the fourth quarter valued at $75,000. Finally, Assetmark Inc. purchased a new position in Montrose Environmental Group during the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

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.