Montrose Environmental Group, Inc. (NYSE:ONT) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Montrose Environmental Group has an average broker rating of “Hold” from five analysts, with a mix of one sell, two hold, and two buy ratings. The average 1-year price target is $23.00.
• The stock rose 5.7% and opened at $19.66, trading below its 12-month high of $32.00 but above its low of $14.13. It currently has a market cap of about $710.5 million.
• Insider buying has been notable, including purchases by Director Peter Graham and CFO Allan Dicks, with insiders buying 36,535 shares worth about $610,003 over the last three months. Institutional investors also remain heavily invested, owning 87.87% of the company.

Montrose Environmental Group, Inc. (NYSE:ONT - Get Free Report) has earned an average rating of "Hold" from the five brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.00.

ONT has been the topic of several research reports. Zacks Research upgraded Montrose Environmental Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Barclays reduced their target price on shares of Montrose Environmental Group from $40.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, May 18th. Weiss Ratings reissued a "sell (d)" rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. 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 research report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on 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.

Montrose Environmental Group Trading Up 5.7%

NYSE:ONT opened at $19.66 on Friday. The company has a 50-day moving average price of $18.24 and a 200-day moving average price of $21.15. The stock has a market cap of $710.49 million, a price-to-earnings ratio of 393.28, a P/E/G ratio of 1.36 and a beta of 1.67. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76. Montrose Environmental Group has a 12 month low of $14.13 and a 12 month high of $32.00.

Insiders Place Their Bets

In related news, Director Peter Graham purchased 25,140 shares of Montrose Environmental Group stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $17.19 per share, for a total transaction 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. The trade was a 10.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Allan Dicks purchased 6,535 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $15.36 per share, with a total value of $100,377.60. Following the transaction, the chief financial officer owned 218,178 shares in the company, valued at $3,351,214.08. The trade was a 3.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 36,535 shares of company stock worth $610,003. Insiders own 10.40% of the company's stock.

Institutional Trading of Montrose Environmental Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bamco Inc. NY boosted its position in shares of Montrose Environmental Group by 2.5% during the second quarter. Bamco Inc. NY now owns 2,764,395 shares of the company's stock valued at $60,513,000 after buying an additional 68,713 shares during the last quarter. Vanguard Group Inc. lifted its position in Montrose Environmental Group by 3.0% during 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 during the period. Goldman Sachs Group Inc. lifted its position in Montrose Environmental Group by 128.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company's stock valued at $43,030,000 after purchasing an additional 975,770 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Montrose Environmental Group by 14.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company's stock worth $36,192,000 after purchasing an additional 179,855 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Montrose Environmental Group by 5.2% in the first 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. 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.

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