Montrose Environmental Group, Inc. (NYSE:ONT) Receives $19.50 Average PT from Analysts

Shares of Montrose Environmental Group, Inc. (NYSE:ONT) have received an average recommendation of “Reduce” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.50.

Several research firms recently commented on ONT. Bank of America cut Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research note on Thursday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Montrose Environmental Group from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Weiss Ratings raised shares of Montrose Environmental Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 4th. Wall Street Zen cut shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, Barclays reiterated an “equal weight” rating and set a $15.00 price objective (down from $19.00) on shares of Montrose Environmental Group in a report on Friday, August 7th.

Montrose Environmental Group Stock Down 5.5%

Shares of NYSE:ONT opened at $17.83 on Friday. The firm has a market cap of $626.19 million, a P/E ratio of -54.03, a P/E/G ratio of 1.94 and a beta of 1.65. Montrose Environmental Group has a 12-month low of $12.68 and a 12-month high of $31.11. The business has a fifty day simple moving average of $18.49 and a 200 day simple moving average of $19.70. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.84.

Montrose Environmental Group (NYSE:ONT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.43. The company had revenue of $186.66 million during the quarter, compared to the consensus estimate of $179.69 million. Montrose Environmental Group had a positive return on equity of 4.11% and a negative net margin of 1.44%. Analysts predict that Montrose Environmental Group will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Montrose Environmental Group

A number of institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Montrose Environmental Group by 36.7% in the 4th quarter. Fisher Asset Management LLC now owns 352,569 shares of the company’s stock worth $8,754,000 after purchasing an additional 94,697 shares in the last quarter. Vanguard Group Inc. increased its stake in Montrose Environmental Group by 3.0% during the 4th 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. Principal Financial Group Inc. increased its stake in Montrose Environmental Group by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after purchasing an additional 66,543 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in Montrose Environmental Group by 6.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 704,702 shares of the company’s stock worth $17,498,000 after buying an additional 43,774 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its holdings in Montrose Environmental Group by 10.6% during the fourth quarter. Summit Creek Advisors LLC now owns 628,786 shares of the company’s stock worth $15,613,000 after buying an additional 60,237 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

About Montrose Environmental Group

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, governmental and other organizations address environmental compliance, pollution control and sustainability challenges. Its services support clients throughout the life cycle of environmental projects, from assessment and permitting to monitoring, remediation and long-term management.

The company provides environmental measurement and analysis, air quality and emissions monitoring, environmental consulting, regulatory compliance support, emergency response, site investigation and remediation services.