Montrose Environmental Group (NYSE:ONT) Downgraded by Zacks Research to Strong Sell

Montrose Environmental Group (NYSE:ONT - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on ONT. Needham & Company LLC raised their target price on Montrose Environmental Group from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Wall Street Zen cut Montrose Environmental Group from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $34.67.

Montrose Environmental Group Price Performance

Shares of ONT opened at $22.13 on Monday. The business's 50-day moving average is $23.20 and its two-hundred day moving average is $24.34. The company has a market capitalization of $800.44 million, a P/E ratio of -92.20, a P/E/G ratio of 1.98 and a beta of 1.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.43 and a current ratio of 1.43. Montrose Environmental Group has a fifty-two week low of $14.87 and a fifty-two week high of $32.00.

Montrose Environmental Group (NYSE:ONT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The company had revenue of $193.27 million for the quarter, compared to the consensus estimate of $186.24 million. During the same period last year, the firm earned ($0.90) EPS. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that Montrose Environmental Group will post 0.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jose Revuelta sold 7,858 shares of Montrose Environmental Group stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $27.00, for a total value of $212,166.00. Following the sale, the insider directly owned 269,282 shares in the company, valued at approximately $7,270,614. The trade was a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vijay Manthripragada sold 46,121 shares of Montrose Environmental Group stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.41, for a total value of $1,171,934.61. Following the completion of the sale, the chief executive officer owned 236,788 shares in the company, valued at approximately $6,016,783.08. The trade was a 16.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 107,527 shares of company stock valued at $2,908,583 over the last quarter. Insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On Montrose Environmental Group

Several institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its holdings in Montrose Environmental Group by 3,733.3% in the 1st 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 during the last quarter. Principal Financial Group Inc. boosted its holdings 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 buying an additional 66,543 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Montrose Environmental Group in the 1st quarter worth about $201,000. Hsbc Holdings PLC boosted its holdings in Montrose Environmental Group by 41.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company's stock worth $328,000 after buying an additional 4,493 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in Montrose Environmental Group by 16.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company's stock worth $1,828,000 after buying an additional 12,040 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

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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