Montrose Environmental Group (NYSE:ONT) Shares Climb 4.2% – Time to Buy?

Montrose Environmental Group, Inc. (NYSE:ONT) rose 4.2% during mid-day trading on Monday. The company traded as high as $14.69 and last traded at $14.59. Approximately 158,681 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 546,979 shares. The stock had previously closed at $14.00.

Analysts Set New Price Targets

A number of analysts have recently commented on ONT shares. Barclays reissued an “equal weight” rating and issued a $15.00 price objective (down from $19.00) on shares of Montrose Environmental Group in a research note on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Wall Street Zen lowered shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Weiss Ratings downgraded shares of Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 22nd. 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. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $19.50.

Montrose Environmental Group Trading Up 1.6%

The business has a 50-day moving average of $17.85 and a 200-day moving average of $19.08. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market cap of $499.76 million, a price-to-earnings ratio of -43.12, a P/E/G ratio of 1.44 and a beta of 1.65.

Montrose Environmental Group (NYSE:ONT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate 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%. Research analysts anticipate that Montrose Environmental Group, Inc. will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. bought a new stake in Montrose Environmental Group during the 4th quarter worth approximately $75,000. Fifth Third Bancorp bought a new stake in shares of Montrose Environmental Group in the 1st quarter worth approximately $201,000. Hillsdale Investment Management Inc. lifted its stake in 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 worth $252,000 after purchasing an additional 11,200 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Montrose Environmental Group during the fourth quarter valued at about $357,000. Finally, Hsbc Holdings PLC grew its stake 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 valued at $328,000 after buying an additional 4,493 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, governmental and other organizations address environmental compliance, pollution control and sustainability challenges. Its services support clients throughout the life cycle of environmental projects, from assessment and permitting to monitoring, remediation and long-term management.

The company provides environmental measurement and analysis, air quality and emissions monitoring, environmental consulting, regulatory compliance support, emergency response, site investigation and remediation services.