Montrose Environmental Group (NYSE:ONT) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Montrose Environmental Group (NYSE:ONT) from a hold rating to a sell rating in a report published on Monday.

ONT has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Needham & Company LLC decreased their price target on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Barclays dropped their price objective on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. Finally, Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.00.

Montrose Environmental Group Stock Performance

NYSE:ONT opened at $22.80 on Monday. 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. The stock’s 50-day simple moving average is $19.12 and its 200 day simple moving average is $20.89. The firm has a market capitalization of $823.99 million, a PE ratio of 456.09, a price-to-earnings-growth ratio of 1.67 and a beta of 1.66.

Insider Activity at Montrose Environmental Group

In other Montrose Environmental Group news, Director Peter Graham acquired 25,140 shares of the company’s stock in a transaction that occurred 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 acquisition, the director directly owned 256,689 shares in the company, valued at $4,412,483.91. This represents a 10.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Allan Dicks bought 6,535 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the transaction, the chief financial officer owned 218,178 shares in the company, valued at $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 36,535 shares of company stock valued at $610,003 in the last ninety days. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Montrose Environmental Group

Several large investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in shares of Montrose Environmental Group in the 3rd quarter valued at $3,979,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Montrose Environmental Group during the fourth quarter worth $10,140,000. Fisher Asset Management LLC raised its stake in Montrose Environmental Group by 36.7% during the fourth quarter. Fisher Asset Management LLC now owns 352,569 shares of the company’s stock worth $8,754,000 after buying an additional 94,697 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Montrose Environmental Group by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock valued at $49,328,000 after buying an additional 57,437 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in Montrose Environmental Group by 6.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 704,702 shares of the company’s stock valued at $17,498,000 after buying an additional 43,774 shares during the period. 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.