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

Wall Street Zen lowered shares of Montrose Environmental Group (NYSE:ONT) from a hold rating to a sell rating in a research note published on Saturday.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Needham & Company LLC lowered their price objective 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. Weiss Ratings reissued a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Barclays decreased their price target 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, Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.00.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock opened at $20.93 on Friday. The firm has a market cap of $756.39 million, a PE ratio of 418.68, a price-to-earnings-growth ratio of 1.53 and a beta of 1.67. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Montrose Environmental Group has a 52 week low of $14.13 and a 52 week high of $32.00. The business’s fifty day simple moving average is $17.84 and its 200-day simple moving average is $21.35.

Insiders Place Their Bets

In related news, CFO Allan Dicks purchased 6,535 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the purchase, the chief financial officer directly 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter Graham acquired 25,140 shares of Montrose Environmental Group stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $17.19 per share, with a total value of $432,156.60. Following the transaction, the director directly owned 256,689 shares in the company, valued at approximately $4,412,483.91. The trade was a 10.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 36,535 shares of company stock worth $610,003. 10.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Montrose Environmental Group

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in Montrose Environmental Group by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock worth $261,000 after purchasing an additional 488 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Montrose Environmental Group by 2.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock valued at $497,000 after buying an additional 515 shares during the last quarter. CWM LLC grew its holdings in shares of Montrose Environmental Group by 8.6% during the fourth quarter. CWM LLC now owns 8,324 shares of the company’s stock worth $207,000 after buying an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Montrose Environmental Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after acquiring an additional 780 shares during the period. Finally, Natixis Advisors LLC increased its position in Montrose Environmental Group by 4.3% in the 3rd quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock valued at $740,000 after acquiring an additional 1,120 shares during the period. Hedge funds and other 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.