Montrose Environmental Group, Inc. (NYSE:ONT) Stock Has Average Price Target of $17.50

Key Points

• Analysts have a bearish-to-neutral view of Montrose Environmental Group, with a consensus “Reduce” rating from six firms: two sells, three holds and one buy. The average 12-month price target is $17.50.
• ONT shares opened at $14.90, below their 50-day average of $15.58 and 200-day average of $19.39, with a 52-week range of $12.26 to $30.00.
• The company exceeded quarterly expectations, reporting $0.51 in earnings per share versus an $0.08 estimate and revenue of $186.66 million versus $179.69 million expected. Institutional investors own approximately 87.87% of the stock.

Montrose Environmental Group, Inc. (NYSE:ONT - Get Free Report) has received a consensus recommendation of "Reduce" from the six ratings firms that are presently covering the company, MarketBeat 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 target price among brokerages that have issued a report on the stock in the last year is $17.50.

A number of analysts have commented on ONT shares. Weiss Ratings cut Montrose Environmental Group from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, September 22nd. Wall Street Zen downgraded Montrose Environmental Group from a "hold" rating to a "sell" rating in a report on Monday, August 3rd. Bank of America lowered Montrose Environmental Group from a "neutral" rating to an "underperform" rating and set a $18.00 target price on the stock. in a research report on Thursday, August 6th. JPMorgan Chase & Co. cut their price target on shares of Montrose Environmental Group from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, October 8th. Finally, Barclays lowered shares of Montrose Environmental Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $19.00 to $15.00 in a research report on Friday, August 7th.

Hedge Funds Weigh In On Montrose Environmental Group

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in Montrose Environmental Group by 5.2% during the first quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company's stock worth $29,470,000 after acquiring an additional 66,543 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Montrose Environmental Group by 41.9% in the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company's stock valued at $328,000 after purchasing an additional 4,493 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Montrose Environmental Group by 3,733.3% in the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company's stock valued at $252,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Montrose Environmental Group in the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 87.87% of the company's stock.

Montrose Environmental Group Stock Down 0.1%

NYSE:ONT opened at $14.90 on Monday. The company's 50-day simple moving average is $15.58 and its 200-day simple moving average is $19.39. Montrose Environmental Group has a fifty-two week low of $12.26 and a fifty-two week high of $30.00. The stock has a market capitalization of $523.29 million, a P/E ratio of -45.15, a P/E/G ratio of 1.53 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 2.00.

Montrose Environmental Group (NYSE:ONT - Get Free Report) last issued its quarterly earnings results 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. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%. The business had revenue of $186.66 million during the quarter, compared to the consensus estimate of $179.69 million. On average, equities analysts anticipate that Montrose Environmental Group will post 0.74 earnings per share for the current fiscal year.

About Montrose Environmental Group

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other organizations address environmental compliance, sustainability and risk-management needs. Its services span the full project life cycle, from environmental assessment and permitting to monitoring, remediation and ongoing compliance support.

The company provides air quality and emissions testing, environmental laboratory services, consulting, engineering, water and waste management, environmental health and safety support, and remediation services.

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