Montrose Environmental Group, Inc. (NYSE:ONT) Stock Has Consensus Price Target of $19.50

Key Points

• Analysts have a cautious view of Montrose Environmental Group, with a consensus rating of “Reduce” from six brokerages: two sells, three holds and one buy. The average 12-month price target is $19.50.
• ONT shares opened at $14.21, well below their 50-day average of $16.90 and 200-day average of $18.48, after trading between $12.26 and $30.90 over the past year.
• The company exceeded quarterly expectations, reporting EPS of $0.51 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 been given an average rating of "Reduce" by the six brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.50.

A number of equities analysts have weighed in on the company. Wall Street Zen cut Montrose Environmental Group from a "hold" rating to a "sell" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on shares of Montrose Environmental Group from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, July 13th. Needham & Company LLC cut their price objective on shares of Montrose Environmental Group from $28.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Barclays reissued an "equal weight" rating and issued a $15.00 price objective (down from $19.00) on shares of Montrose Environmental Group in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded Montrose Environmental Group from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, September 22nd.

Montrose Environmental Group Stock Down 2.1%

Shares of Montrose Environmental Group stock opened at $14.21 on Thursday. The company has a fifty day moving average price of $16.90 and a 200 day moving average price of $18.48. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84. Montrose Environmental Group has a twelve month low of $12.26 and a twelve month high of $30.90. The stock has a market cap of $499.06 million, a price-to-earnings ratio of -43.06, a price-to-earnings-growth ratio of 1.49 and a beta of 1.83.

Montrose Environmental Group (NYSE:ONT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.08 by $0.43. The company had revenue of $186.66 million for the quarter, compared to analyst estimates of $179.69 million. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%. Equities research analysts forecast that Montrose Environmental Group will post 0.74 earnings per share 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 business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Montrose Environmental Group during the 4th quarter worth approximately $75,000. Fifth Third Bancorp acquired a new stake in shares of Montrose Environmental Group during the first quarter worth approximately $201,000. Hillsdale Investment Management Inc. grew its position in shares of Montrose Environmental Group by 3,733.3% during the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company's stock worth $252,000 after buying an additional 11,200 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Montrose Environmental Group by 41.9% during the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company's stock worth $328,000 after acquiring an additional 4,493 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in Montrose Environmental Group by 16.8% in the first quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company's stock valued at $1,828,000 after buying an additional 12,040 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, government and other clients address complex environmental challenges. Its services support regulatory compliance, pollution reduction, environmental risk management and the responsible use of natural resources.

The company provides services across environmental assessment, permitting and response; measurement and analysis; and remediation and reuse. Its capabilities include air quality consulting and emissions monitoring, laboratory and field testing, environmental compliance support, investigation and remediation of contaminated sites, water and wastewater services, and environmental planning and permitting.

Montrose serves clients across a range of industries and government markets, with operations and project work throughout the United States and select international locations.

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