Montrose Environmental Group, Inc. (NYSE:ONT) Given Consensus Rating of “Hold” by Analysts

Montrose Environmental Group, Inc. (NYSE:ONT) has been assigned an average rating of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.00.

A number of analysts recently commented on the stock. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Wall Street Zen raised shares of Montrose Environmental Group from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. JPMorgan Chase & Co. decreased their price target on 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, Needham & Company LLC lowered their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th.

Insiders Place Their Bets

In other news, CFO Allan Dicks bought 6,535 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $15.36 per share, with a total value of $100,377.60. Following the completion of the acquisition, the chief financial officer owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Graham purchased 25,140 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was purchased 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 of the company’s stock, valued at approximately $4,412,483.91. This represents a 10.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 36,535 shares of company stock worth $610,003. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Montrose Environmental Group

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Montrose Environmental Group by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock worth $261,000 after acquiring an additional 488 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Montrose Environmental Group by 2.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock valued at $497,000 after purchasing an additional 515 shares in the last quarter. CWM LLC grew its position in shares of Montrose Environmental Group by 8.6% in the fourth quarter. CWM LLC now owns 8,324 shares of the company’s stock valued at $207,000 after purchasing an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 increased its stake in shares of Montrose Environmental Group by 4.3% during the 3rd quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock worth $740,000 after purchasing an additional 1,120 shares in the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Performance

Shares of ONT opened at $20.27 on Friday. The company has a 50-day simple moving average of $18.55 and a 200-day simple moving average of $21.00. 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 company has a market capitalization of $732.56 million, a PE ratio of 405.48, a P/E/G ratio of 1.50 and a beta of 1.67. Montrose Environmental Group has a 52-week low of $14.13 and a 52-week high of $32.00.

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.