Montrose Environmental Group, Inc. (NYSE:ONT) Given Average Rating of "Reduce" by Analysts

Key Points

• Analysts have a bearish overall view of Montrose Environmental Group, with an average “Reduce” rating from six analysts: two sells, three holds and one buy. The average 12-month price target is $19.50, while several firms recently lowered targets.
• The stock opened at $18.32 and trades below its 200-day moving average of $19.78, with a 12-month range of $12.68 to $31.16. Despite this, the company beat quarterly estimates, reporting $0.51 EPS versus $0.08 expected and revenue of $186.66 million versus $179.69 million expected.
• Institutional investors own 87.87% of the shares, with firms including Fisher Asset Management, Vanguard and Principal Financial increasing their positions in recent quarters.

Shares of Montrose Environmental Group, Inc. (NYSE:ONT - Get Free Report) have received an average recommendation of "Reduce" from the six analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.50.

Several equities analysts have weighed in on ONT shares. Zacks Research upgraded Montrose Environmental Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Barclays reiterated an "equal weight" rating and set a $15.00 price target (down from $19.00) on shares of Montrose Environmental Group in a research note on Friday, August 7th. Wall Street Zen downgraded Montrose Environmental Group from a "hold" rating to a "sell" rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on Montrose Environmental Group from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, July 13th. Finally, Needham & Company LLC lowered their price target on Montrose Environmental Group from $28.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, August 7th.

Montrose Environmental Group Stock Performance

ONT stock opened at $18.32 on Friday. The firm has a 50 day moving average of $18.63 and a two-hundred day moving average of $19.78. Montrose Environmental Group has a 12 month low of $12.68 and a 12 month high of $31.16. The company has a market capitalization of $643.40 million, a price-to-earnings ratio of -55.51, a P/E/G ratio of 1.88 and a beta of 1.65. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.84.

Montrose Environmental Group (NYSE:ONT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.43. Montrose Environmental Group had a negative net margin of 1.44% and a positive return on equity of 4.11%. The business had revenue of $186.66 million for the quarter, compared to the consensus estimate of $179.69 million. As a group, equities analysts anticipate that Montrose Environmental Group will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of Montrose Environmental Group by 36.7% during the 4th 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of Montrose Environmental Group by 3.0% in the fourth 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. Stephens Investment Management Group LLC increased its holdings in shares of Montrose Environmental Group by 6.6% in the fourth 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 in the last quarter. Principal Financial Group Inc. raised its position in 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 worth $29,470,000 after purchasing an additional 66,543 shares during the last quarter. Finally, Summit Creek Advisors LLC lifted its holdings in Montrose Environmental Group by 10.6% during the 4th quarter. Summit Creek Advisors LLC now owns 628,786 shares of the company's stock worth $15,613,000 after buying an additional 60,237 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company's stock.

About Montrose Environmental Group

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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