Montrose Environmental Group, Inc. (NYSE:ONT) Stock Has Average Target Price of $19.50 According to Analysts

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have been assigned a consensus recommendation of “Reduce” from the six research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.50.

Several brokerages have recently commented on ONT. Weiss Ratings cut Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 22nd. Barclays reissued an “equal weight” rating and issued a $15.00 target price (down from $19.00) on shares of Montrose Environmental Group in a research note on Friday, August 7th. Needham & Company LLC decreased their price target on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 7th. JPMorgan Chase & Co. dropped their price objective on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Finally, Wall Street Zen cut shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd.

Montrose Environmental Group Stock Down 3.8%

Shares of NYSE:ONT opened at $13.29 on Thursday. The company’s fifty day moving average is $16.45 and its 200-day moving average is $18.30. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 2.00. Montrose Environmental Group has a 52 week low of $12.26 and a 52 week high of $30.90. The company has a market capitalization of $466.74 million, a PE ratio of -40.27, a P/E/G ratio of 1.42 and a beta of 1.83.

Montrose Environmental Group (NYSE:ONT) last announced its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.43. The business had revenue of $186.66 million during 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%. Equities research analysts predict that Montrose Environmental Group will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Montrose Environmental Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in shares of Montrose Environmental Group by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after purchasing an additional 66,543 shares during the period. OP Asset Management Ltd bought a new position in Montrose Environmental Group during the 1st quarter worth approximately $3,418,000. Conestoga Capital Advisors LLC increased its stake in Montrose Environmental Group by 16.8% in the first quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock valued at $1,828,000 after purchasing an additional 12,040 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Montrose Environmental Group by 41.9% during the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after purchasing an additional 4,493 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Montrose Environmental Group by 3,733.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $252,000 after buying an additional 11,200 shares during the period. Institutional investors own 87.87% of the company’s stock.

About Montrose Environmental Group

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other clients address complex environmental challenges. Its services support regulatory compliance, pollution reduction, environmental risk management and the responsible use of natural resources.

The company provides services across environmental assessment, permitting and response; measurement and analysis; and remediation and reuse. Its capabilities include air quality consulting and emissions monitoring, laboratory and field testing, environmental compliance support, investigation and remediation of contaminated sites, water and wastewater services, and environmental planning and permitting.

Montrose serves clients across a range of industries and government markets, with operations and project work throughout the United States and select international locations.