Orion Group (NYSE:ORN) Hits New 52-Week High – Time to Buy?

Orion Group Holdings, Inc. (NYSE:ORN) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $13.17 and last traded at $12.9090, with a volume of 263174 shares changing hands. The stock had previously closed at $12.22.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Orion Group in a research report on Thursday, January 22nd. JPMorgan Chase & Co. started coverage on Orion Group in a report on Thursday, January 22nd. They issued an “overweight” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Orion Group currently has an average rating of “Moderate Buy” and an average target price of $13.75.

Orion Group Price Performance

The company’s 50-day simple moving average is $10.88 and its 200 day simple moving average is $9.24. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $511.52 million, a price-to-earnings ratio of 55.74 and a beta of 1.18.

Institutional Trading of Orion Group

Large investors have recently modified their holdings of the company. Empowered Funds LLC grew its position in Orion Group by 1.9% during the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock worth $626,000 after buying an additional 2,220 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of Orion Group by 20.7% in the 3rd quarter. OLD National Bancorp IN now owns 16,047 shares of the construction company’s stock worth $134,000 after acquiring an additional 2,751 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Orion Group by 171.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,832 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Orion Group by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,172 shares of the construction company’s stock worth $428,000 after purchasing an additional 2,853 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Orion Group by 20.9% during the third quarter. Intech Investment Management LLC now owns 17,316 shares of the construction company’s stock valued at $144,000 after purchasing an additional 2,999 shares during the period. 70.25% of the stock is owned by institutional investors.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.