Wall Street Zen Downgrades Montrose Environmental Group (NYSE:ONT) to Sell

Key Points

• Wall Street Zen downgraded Montrose Environmental Group to “Sell” from “Hold,” adding to mixed analyst sentiment. MarketBeat reports a consensus “Hold” rating and an average price target of $23.00.
• Montrose shares opened at $21.03, with a market capitalization of approximately $760 million and a notably high price-to-earnings ratio of 420.68; the stock has traded between $14.13 and $32.00 over the past year.
• Insiders bought 36,535 shares worth about $610,000 over the past 90 days, while institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group (NYSE:ONT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Monday.

ONT has been the subject of a number of other research reports. Zacks Research raised shares of Montrose Environmental Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their price target on Montrose Environmental Group from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, July 13th. Barclays reduced their price objective on Montrose Environmental Group from $40.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, May 18th. Weiss Ratings reiterated a "sell (d)" rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Finally, Needham & Company LLC cut their target price on 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. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $23.00.

Montrose Environmental Group Price Performance

Shares of NYSE ONT opened at $21.03 on Monday. The firm has a market cap of $760.02 million, a PE ratio of 420.68, a PEG ratio of 1.54 and a beta of 1.66. The company has a fifty day moving average price of $18.73 and a 200 day moving average price of $20.92. Montrose Environmental Group has a 1-year low of $14.13 and a 1-year high of $32.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76.

Insider Activity at Montrose Environmental Group

In other news, CFO Allan Dicks purchased 6,535 shares of the company's stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the transaction, the chief financial officer owned 218,178 shares of the company's stock, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter Graham bought 25,140 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $17.19 per share, for a total transaction of $432,156.60. Following the acquisition, the director owned 256,689 shares of the company's stock, valued at $4,412,483.91. This trade represents a 10.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 36,535 shares of company stock valued at $610,003. Company insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On Montrose Environmental Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY grew its stake in Montrose Environmental Group by 2.5% in the second quarter. Bamco Inc. NY now owns 2,764,395 shares of the company's stock valued at $60,513,000 after acquiring an additional 68,713 shares during the period. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Montrose Environmental Group by 128.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company's stock worth $43,030,000 after buying an additional 975,770 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 shares of 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. 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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