Montrose Environmental Group (NYSE:ONT) Downgraded to “Sell” Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of Montrose Environmental Group (NYSE:ONT – Free Report) from a hold rating to a sell rating in a report issued on Monday morning.

A number of other analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. JPMorgan Chase & Co. cut their target price 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. Needham & Company LLC reduced their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Barclays lowered their price objective on 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. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.00.

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Montrose Environmental Group Price Performance

ONT stock opened at $22.07 on Monday. The company has a market capitalization of $797.61 million, a P/E ratio of 441.49, a PEG ratio of 1.54 and a beta of 1.66. The company has a fifty day moving average price of $18.83 and a 200-day moving average price of $20.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. Montrose Environmental Group has a 52-week low of $14.13 and a 52-week high of $32.00.

Insiders Place Their Bets

In other news, Director Peter Graham bought 25,140 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $17.19 per share, with a total value of $432,156.60. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Allan Dicks bought 6,535 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the acquisition, the chief financial officer owned 218,178 shares of the company’s stock, valued at $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 36,535 shares of company stock worth $610,003. Insiders own 10.40% of the company’s stock.

Institutional Trading of Montrose Environmental Group

A number of large investors have recently bought and sold shares of ONT. Advisory Services Network LLC acquired a new position in shares of Montrose Environmental Group in the 3rd quarter valued at about $32,000. Canada Pension Plan Investment Board boosted its position in shares of 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 valued at $42,000 after purchasing an additional 1,600 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Montrose Environmental Group during the fourth quarter worth approximately $75,000. Tower Research Capital LLC TRC grew its stake in Montrose Environmental Group by 95.6% during the second 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 period. Finally, Assetmark Inc. bought a new stake in Montrose Environmental Group in the fourth quarter worth approximately $84,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Montrose Environmental Group Company Profile

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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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