Analysts Set Montrose Environmental Group, Inc. (NYSE:ONT) Target Price at $23.00

by · The Markets Daily

Montrose Environmental Group, Inc. (NYSE:ONT – Get Free Report) has received a consensus rating of “Hold” from the five analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $23.00.

Several research firms have weighed in on ONT. Barclays lowered their price objective on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. JPMorgan Chase & Co. reduced their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. Needham & Company LLC decreased their price target on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Montrose Environmental Group from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th.

Get Our Latest Stock Analysis on Montrose Environmental Group

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $21.03 on Friday. The business’s fifty day moving average is $18.73 and its two-hundred day moving average is $20.96. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $760.02 million, a P/E ratio of 420.68, a P/E/G ratio of 1.48 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.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, CFO Allan Dicks acquired 6,535 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the acquisition, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This represents a 3.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Graham bought 25,140 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $17.19 per share, with a total value of $432,156.60. Following the acquisition, the director directly owned 256,689 shares in the company, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 36,535 shares of company stock worth $610,003. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Montrose Environmental Group by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock valued at $261,000 after buying an additional 488 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Montrose Environmental Group by 2.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after buying an additional 515 shares during the period. CWM LLC grew its position in shares of Montrose Environmental Group by 8.6% during the 4th quarter. CWM LLC now owns 8,324 shares of the company’s stock worth $207,000 after buying an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Montrose Environmental Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after acquiring an additional 780 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Montrose Environmental Group by 4.3% in the 3rd quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock valued at $740,000 after acquiring an additional 1,120 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

(Get Free Report)

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.

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