Zacks Investment Research upgraded shares of Orion Marine Group Inc. (NYSE:ORN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $8.25 price objective on the stock.
According to Zacks, “Orion Group Holdings, Inc. is a construction company which provides services on and off the water primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company’s operating segment consists of heavy civil marine construction segment and commercial concrete segment. Heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar and mesh across the light commercial, structural and other associated business areas. Orion Group Holdings, Inc., formerly known as Orion Marine Group Inc., is headquartered in Houston, Texas. “
ORN has been the subject of several other reports. FBR & Co raised shares of Orion Marine Group from a market perform rating to an outperform rating and boosted their price objective for the company from $6.00 to $9.00 in a research note on Thursday, October 6th. Imperial Capital upped their price target on shares of Orion Marine Group from $6.00 to $6.50 and gave the stock an in-line rating in a research report on Monday, August 8th. DA Davidson upped their price target on shares of Orion Marine Group from $5.50 to $6.00 and gave the stock a buy rating in a research report on Friday, August 5th. Finally, Canaccord Genuity set a $5.50 price target on shares of Orion Marine Group and gave the stock a hold rating in a research report on Saturday, August 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Orion Marine Group presently has a consensus rating of Hold and an average price target of $7.45.
Shares of Orion Marine Group (NYSE:ORN) opened at 7.77 on Wednesday. The firm’s market cap is $215.07 million. The stock’s 50 day moving average price is $6.52 and its 200-day moving average price is $5.73. Orion Marine Group has a 52-week low of $3.25 and a 52-week high of $7.84.
Orion Marine Group (NYSE:ORN) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.04. Orion Marine Group had a negative net margin of 1.40% and a negative return on equity of 3.52%. The company had revenue of $140.30 million for the quarter, compared to analysts’ expectations of $147.21 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. The firm’s quarterly revenue was up 63.0% on a year-over-year basis. On average, equities research analysts anticipate that Orion Marine Group will post $0.28 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of ORN. BlackRock Fund Advisors boosted its position in Orion Marine Group by 3.0% in the second quarter. BlackRock Fund Advisors now owns 1,840,958 shares of the company’s stock worth $9,775,000 after buying an additional 54,282 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Orion Marine Group by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,339,644 shares of the company’s stock worth $7,113,000 after buying an additional 116,846 shares during the last quarter. Vanguard Group Inc. boosted its position in Orion Marine Group by 7.5% in the second quarter. Vanguard Group Inc. now owns 1,086,861 shares of the company’s stock worth $5,771,000 after buying an additional 75,409 shares during the last quarter. Foundry Partners LLC boosted its position in Orion Marine Group by 7.4% in the second quarter. Foundry Partners LLC now owns 785,525 shares of the company’s stock worth $4,171,000 after buying an additional 54,210 shares during the last quarter. Finally, South Dakota Investment Council boosted its position in Orion Marine Group by 17.2% in the second quarter. South Dakota Investment Council now owns 730,500 shares of the company’s stock worth $3,879,000 after buying an additional 107,022 shares during the last quarter. 87.19% of the stock is owned by institutional investors.
About Orion Marine Group
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Orion Marine Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion Marine Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.