Montrose Environmental Group (NYSE:ONT) Trading 5.4% Higher – Should You Buy?

Montrose Environmental Group, Inc. (NYSE:ONT)’s share price rose 5.4% on Tuesday . The stock traded as high as $17.04 and last traded at $16.90. 274,259 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 531,989 shares. The stock had previously closed at $16.04.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ONT. Bank of America cut Montrose Environmental Group from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research note on Thursday, August 6th. Barclays reissued an “equal weight” rating and issued a $15.00 target price (down from $19.00) on shares of Montrose Environmental Group in a research note on Friday, August 7th. Needham & Company LLC reduced their price target on Montrose Environmental Group from $28.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 7th. Wall Street Zen lowered Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings lowered Montrose Environmental Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $19.50.

Montrose Environmental Group Stock Up 1.1%

The company has a market cap of $569.60 million, a P/E ratio of -49.15, a P/E/G ratio of 1.81 and a beta of 1.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.00 and a quick ratio of 2.00. The company’s 50-day moving average is $19.11 and its two-hundred day moving average is $20.55.

Montrose Environmental Group (NYSE:ONT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 earnings per share 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 analyst estimates of $179.69 million. Montrose Environmental Group had a negative net margin of 1.44% and a positive return on equity of 4.11%. As a group, equities analysts predict that Montrose Environmental Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Montrose Environmental Group

In other Montrose Environmental Group news, Director Peter Graham purchased 25,140 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $269,000 after buying an additional 780 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Montrose Environmental Group by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after acquiring an additional 92,671 shares during the period. Rhumbline Advisers lifted its stake in Montrose Environmental Group by 27.9% during the 2nd quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock valued at $1,262,000 after acquiring an additional 12,566 shares during the period. Invesco Ltd. boosted its holdings in shares of Montrose Environmental Group by 13.1% during the 2nd quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock valued at $3,329,000 after acquiring an additional 17,601 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Montrose Environmental Group by 245.0% during the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after acquiring an additional 272,444 shares during the last quarter. 87.87% of the stock is 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.