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

Montrose Environmental Group (NYSE:ONT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Monday.

Several other equities analysts also recently issued reports on the stock. Barclays reduced their price objective on shares of 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. 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC reduced their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.00.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $23.05 on Monday. Montrose Environmental Group has a 12-month low of $14.13 and a 12-month high of $32.00. The stock has a market capitalization of $833.03 million, a P/E ratio of 461.09, a P/E/G ratio of 1.61 and a beta of 1.66. The firm’s 50-day moving average is $18.98 and its two-hundred day moving average is $20.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84.

Insider Buying and Selling at Montrose Environmental Group

In other news, Director Peter Graham purchased 25,140 shares of the stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $17.19 per share, with a total value of $432,156.60. Following the completion of the transaction, the director owned 256,689 shares in the company, valued at approximately $4,412,483.91. The trade was a 10.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Allan Dicks purchased 6,535 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $15.36 per share, with a total value 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 $3,351,214.08. The trade was a 3.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 36,535 shares of company stock worth $610,003 over the last ninety days. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 valued at $261,000 after acquiring an additional 488 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in 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 purchasing an additional 515 shares during the period. CWM LLC lifted its stake 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 purchasing an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after buying an additional 780 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Montrose Environmental Group by 4.3% in the third quarter. Natixis Advisors LLC now owns 26,962 shares of the company’s stock valued at $740,000 after buying an additional 1,120 shares in the last quarter. Institutional investors and hedge funds 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.