Montrose Environmental Group, Inc. (NYSE:ONT) Receives $19.50 Average Target Price from Analysts

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have received an average recommendation of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $19.50.

Several research firms recently weighed in on ONT. Needham & Company LLC reduced their price objective on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Wall Street Zen cut shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. reduced their price target on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Finally, Barclays reaffirmed an “equal weight” rating and set a $15.00 price target (down from $19.00) on shares of Montrose Environmental Group in a report on Friday, August 7th.

Insiders Place Their Bets

In related news, Director Peter Graham bought 25,140 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the transaction, the director directly owned 256,689 shares of the company’s stock, valued at approximately $4,412,483.91. This represents a 10.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Montrose Environmental Group by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock valued at $261,000 after acquiring an additional 488 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Montrose Environmental Group by 2.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after purchasing an additional 515 shares in the last quarter. CWM LLC increased its holdings in Montrose Environmental Group by 8.6% in the 4th quarter. CWM LLC now owns 8,324 shares of the company’s stock worth $207,000 after purchasing an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after purchasing an additional 780 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in Montrose Environmental Group by 4.3% in the third quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock valued at $740,000 after purchasing an additional 1,120 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Trading Up 8.2%

Shares of ONT stock opened at $15.86 on Wednesday. The stock’s fifty day moving average price is $19.02 and its two-hundred day moving average price is $20.38. The company has a market cap of $557.00 million, a PE ratio of -48.06, a P/E/G ratio of 1.51 and a beta of 1.66. Montrose Environmental Group has a fifty-two week low of $12.68 and a fifty-two week high of $31.22. 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 (NYSE:ONT) last posted its quarterly 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 company had revenue of $186.66 million during the quarter, compared to analysts’ expectations of $179.69 million. Equities analysts predict that Montrose Environmental Group will post 0.74 EPS for the current fiscal year.

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.