Montrose Environmental Group (NYSE:ONT) Stock Rating Lowered by Wall Street Zen

Montrose Environmental Group (NYSE:ONT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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

Montrose Environmental Group Trading Down 4.0%

NYSE ONT opened at $20.93 on Friday. Montrose Environmental Group has a 52 week low of $14.13 and a 52 week high of $32.00. The firm has a 50 day moving average of $17.84 and a two-hundred day moving average of $21.35. 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 has a market capitalization of $756.41 million, a PE ratio of 418.68, a price-to-earnings-growth ratio of 1.60 and a beta of 1.67.

Insiders Place Their Bets

In other news, CFO Allan Dicks bought 6,535 shares of Montrose Environmental Group stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $15.36 per share, with a total value of $100,377.60. Following 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 legal filing with the SEC, which is accessible through this link. Also, Director Peter Graham bought 25,140 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $17.19 per share, with a total value of $432,156.60. Following the completion of the transaction, the director owned 256,689 shares in the company, valued at approximately $4,412,483.91. This trade 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 three months, insiders purchased 36,535 shares of company stock valued at $610,003. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Montrose Environmental Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in Montrose Environmental Group in the 3rd quarter valued at $32,000. Canada Pension Plan Investment Board boosted its stake in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after purchasing an additional 1,600 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in Montrose Environmental Group during the 4th quarter worth $75,000. Tower Research Capital LLC TRC grew its position in Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of Montrose Environmental Group in the fourth quarter valued at about $84,000. Hedge funds and other 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.