Montrose Environmental Group, Inc. (NYSE:ONT) Stock Has Consensus Target Price of $19.50

Montrose Environmental Group, Inc. (NYSE:ONT) has received a consensus recommendation of “Reduce” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $17.50.

A number of research analysts have weighed in on the stock. Bank of America cut shares of Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd. 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. Needham & Company LLC lowered their price target on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Barclays restated an “equal weight” rating and set a $15.00 price objective (down from $19.00) on shares of Montrose Environmental Group in a research note on Friday, August 7th.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock opened at $13.66 on Thursday. The stock has a fifty day moving average price of $16.07 and a 200 day moving average price of $18.17. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. Montrose Environmental Group has a 52 week low of $12.26 and a 52 week high of $30.90. The firm has a market capitalization of $479.74 million, a P/E ratio of -41.39, a PEG ratio of 1.36 and a beta of 1.83.

Montrose Environmental Group (NYSE:ONT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.43. The company had revenue of $186.66 million for the quarter, compared to the consensus estimate 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 anticipate that Montrose Environmental Group will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds have recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Montrose Environmental Group in the fourth quarter valued at approximately $75,000. Hsbc Holdings PLC lifted 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. Fifth Third Bancorp acquired a new position in shares of Montrose Environmental Group during the first quarter worth $201,000. Hillsdale Investment Management Inc. boosted its stake in shares of Montrose Environmental Group by 3,733.3% in the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $252,000 after purchasing an additional 11,200 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of 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 during the period. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

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.