Montrose Environmental Group, Inc. (NYSE:ONT) Stock Has Consensus Target Price of $19.50 According to Analysts

Montrose Environmental Group, Inc. (NYSE:ONT) has been given a consensus rating of “Reduce” by the six brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $17.50.

Several analysts have recently commented on the company. 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 report on Thursday, August 6th. JPMorgan Chase & Co. dropped their price target on Montrose Environmental Group from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays reissued an “equal weight” rating and issued a $15.00 price objective (down from $19.00) on shares of Montrose Environmental Group in a research note 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 cut Montrose Environmental Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 22nd.

Institutional Trading of Montrose Environmental Group

Several institutional investors have recently made changes to their positions in ONT. Dixon Mitchell Investment Counsel Inc. bought a new stake in Montrose Environmental Group during the 4th quarter valued at approximately $75,000. Hsbc Holdings PLC increased its position in Montrose Environmental Group by 41.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after buying an additional 4,493 shares during the period. Fifth Third Bancorp bought a new position in Montrose Environmental Group in the 1st quarter worth approximately $201,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Montrose Environmental Group by 3,733.3% during the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock worth $252,000 after buying an additional 11,200 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Montrose Environmental Group by 16.8% during the first quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock worth $1,828,000 after buying an additional 12,040 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Montrose Environmental Group Trading Up 0.9%

Montrose Environmental Group stock opened at $13.84 on Thursday. The company has a 50 day moving average price of $16.62 and a 200 day moving average price of $18.39. Montrose Environmental Group has a 52 week low of $12.26 and a 52 week high of $30.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $486.06 million, a price-to-earnings ratio of -41.94, a P/E/G ratio of 1.42 and a beta of 1.83.

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

About Montrose Environmental Group

Montrose Environmental Group, Inc is an environmental services company that helps industrial, commercial, government and other clients address complex environmental challenges. Its services support regulatory compliance, pollution reduction, environmental risk management and the responsible use of natural resources.

The company provides services across environmental assessment, permitting and response; measurement and analysis; and remediation and reuse. Its capabilities include air quality consulting and emissions monitoring, laboratory and field testing, environmental compliance support, investigation and remediation of contaminated sites, water and wastewater services, and environmental planning and permitting.

Montrose serves clients across a range of industries and government markets, with operations and project work throughout the United States and select international locations.