Analysts Set Montrose Environmental Group, Inc. (NYSE:ONT) Price Target at $19.50

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have received an average recommendation of “Reduce” from the six analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.50.

A number of equities analysts have recently commented on ONT shares. Weiss Ratings raised shares of Montrose Environmental Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 4th. Barclays reiterated an “equal weight” rating and issued a $15.00 target price (down from $19.00) on shares of Montrose Environmental Group in a research report on Friday, August 7th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. lowered their price target on 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. Finally, Bank of America lowered Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a research note on Thursday, August 6th.

Montrose Environmental Group Stock Performance

Shares of ONT opened at $18.08 on Friday. Montrose Environmental Group has a 12-month low of $12.68 and a 12-month high of $30.90. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. The company has a market cap of $634.97 million, a PE ratio of -54.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.65. The stock has a 50-day moving average price of $18.28 and a 200-day moving average price of $19.53.

Montrose Environmental Group (NYSE:ONT) last posted 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 company had revenue of $186.66 million for 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%. As a group, equities analysts forecast that Montrose Environmental Group will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Montrose Environmental Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake 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 acquiring an additional 94,697 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Montrose Environmental Group by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock valued at $49,328,000 after purchasing an additional 57,437 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Montrose Environmental Group by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after purchasing an additional 66,543 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Montrose Environmental Group by 6.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 704,702 shares of the company’s stock valued at $17,498,000 after purchasing an additional 43,774 shares during the last quarter. Finally, Summit Creek Advisors LLC grew its holdings in shares of Montrose Environmental Group by 10.6% during the 4th quarter. Summit Creek Advisors LLC now owns 628,786 shares of the company’s stock valued at $15,613,000 after purchasing an additional 60,237 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, 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.