Montrose Environmental Group (NYSE:ONT) Stock Price Down 7.1% – Time to Sell?

Montrose Environmental Group, Inc. (NYSE:ONT) fell 7.1% during trading on Thursday . The stock traded as low as $15.44 and last traded at $15.44. 41,933 shares were traded during mid-day trading, a decline of 92% from the average session volume of 534,409 shares. The stock had previously closed at $16.62.

Wall Street Analyst Weigh In

ONT has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced 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. Wall Street Zen lowered shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Bank of America lowered shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Thursday, August 6th. Zacks Research upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Barclays reaffirmed an “equal weight” rating and issued a $15.00 target price (down from $19.00) on shares of Montrose Environmental Group in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Montrose Environmental Group has an average rating of “Reduce” and an average target price of $19.50.

Montrose Environmental Group Trading Up 8.2%

The stock’s fifty day moving average price is $19.02 and its 200 day moving average price is $20.38. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.84. The stock has a market cap of $557.00 million, a PE ratio of -48.06, a PEG ratio of 1.51 and a beta of 1.66.

Montrose Environmental Group (NYSE:ONT) last posted its earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.43. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%.The business had revenue of $186.66 million during the quarter, compared to analyst estimates of $179.69 million. On average, sell-side analysts forecast that Montrose Environmental Group, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter Graham bought 25,140 shares of the business’s stock in a transaction 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 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

A number of large investors have recently made changes to their positions in ONT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Montrose Environmental Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after buying an additional 780 shares during the period. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 92,671 shares in the last quarter. Rhumbline Advisers grew its position 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 in the last quarter. Invesco Ltd. raised its position in shares of Montrose Environmental Group by 13.1% during the second quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock valued at $3,329,000 after buying an additional 17,601 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Montrose Environmental Group by 245.0% in the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after acquiring an additional 272,444 shares during the last quarter. 87.87% of the stock is currently 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.