Montrose Environmental Group (NYSE:ONT) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Montrose Environmental Group (NYSE:ONT) from a hold rating to a sell rating in a research note published on Saturday morning.

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

Montrose Environmental Group Price Performance

Shares of NYSE ONT opened at $19.90 on Friday. The stock’s 50-day moving average is $17.92 and its two-hundred day moving average is $21.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84. Montrose Environmental Group has a 1-year low of $14.13 and a 1-year high of $32.00. The company has a market cap of $719.19 million, a price-to-earnings ratio of 398.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.67.

Insider Activity

In other Montrose Environmental Group news, Director Peter Graham purchased 25,140 shares of the 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 acquisition, the director directly owned 256,689 shares of the company’s stock, valued at $4,412,483.91. This trade represents a 10.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Allan Dicks purchased 6,535 shares of the stock in a transaction that occurred on 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 completion of the acquisition, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at $3,351,214.08. This represents a 3.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 36,535 shares of company stock worth $610,003 in the last three months. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Montrose Environmental Group

Several institutional investors have recently modified their holdings of ONT. Nordea Investment Management AB acquired a new stake in Montrose Environmental Group during the 4th quarter worth $1,382,000. Tudor Investment Corp ET AL acquired a new position in Montrose Environmental Group in the third quarter valued at $3,979,000. Allspring Global Investments Holdings LLC acquired a new position in Montrose Environmental Group in the fourth quarter valued at $10,140,000. Fisher Asset Management LLC grew its holdings in shares of Montrose Environmental Group by 36.7% during the fourth quarter. Fisher Asset Management LLC now owns 352,569 shares of the company’s stock worth $8,754,000 after purchasing an additional 94,697 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Montrose Environmental Group by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock worth $49,328,000 after purchasing an additional 57,437 shares during the last quarter. 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.