Montrose Environmental Group (NYSE:ONT) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Montrose Environmental Group from “sell” to “hold,” adding to a mixed analyst picture that currently averages to a “hold” rating with a $23.00 target price.
• Several firms have recently adjusted their views and targets, including Needham, Barclays, and JPMorgan, with price objectives ranging from $19 to $28.
• Insiders have been buying shares: Director Peter Graham and CFO Allan Dicks both increased their holdings, and insiders bought 36,535 shares worth about $610,003 in the last quarter.

Montrose Environmental Group (NYSE:ONT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Zacks Research upgraded Montrose Environmental Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Needham & Company LLC cut their price objective on Montrose Environmental Group from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Barclays reduced their price objective on Montrose Environmental Group from $40.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $23.00.

Montrose Environmental Group Stock Performance

NYSE:ONT opened at $19.66 on Friday. Montrose Environmental Group has a 1-year low of $14.13 and a 1-year high of $32.00. The company's 50-day moving average is $18.24 and its two-hundred day moving average is $21.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $710.51 million, a price-to-earnings ratio of 393.28, a PEG ratio of 1.44 and a beta of 1.67.

Insider Buying and Selling

In other news, Director Peter Graham acquired 25,140 shares of the company's stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the purchase, the director directly owned 256,689 shares of the company's stock, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Allan Dicks bought 6,535 shares of Montrose Environmental Group stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the transaction, the chief financial officer owned 218,178 shares of the company's stock, valued at approximately $3,351,214.08. This represents a 3.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 36,535 shares of company stock worth $610,003 in the last quarter. Insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On Montrose Environmental Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in shares of Montrose Environmental Group during the 3rd quarter valued at approximately $32,000. Canada Pension Plan Investment Board boosted its stake in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company's stock valued at $42,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company's stock worth $68,000 after acquiring an additional 1,508 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Montrose Environmental Group during the 4th quarter worth $75,000. Finally, Assetmark Inc. bought a new stake in shares of Montrose Environmental Group in the 4th quarter worth about $84,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

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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