Orix Corp Ads (NYSE:IX) Sets New 52-Week High – Time to Buy?

Orix Corp Ads (NYSE:IX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $40.63 and last traded at $40.3880, with a volume of 237682 shares. The stock had previously closed at $40.15.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IX shares. Weiss Ratings lowered Orix Corp Ads from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday. Wall Street Zen lowered Orix Corp Ads from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Orix Corp Ads currently has a consensus rating of “Hold”.

Orix Corp Ads Stock Down 2.1%

The stock’s 50-day moving average price is $36.43 and its two-hundred day moving average price is $32.93. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $42.59 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.31 and a beta of 0.88.

Orix Corp Ads (NYSE:IX) last posted its quarterly earnings results on Tuesday, March 31st. The real estate investment trust reported $1.64 EPS for the quarter. Orix Corp Ads had a net margin of 13.55% and a return on equity of 9.93%. The company had revenue of $6.03 billion for the quarter. As a group, research analysts expect that Orix Corp Ads will post 2.96 earnings per share for the current fiscal year.

Institutional Trading of Orix Corp Ads

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantinno Capital Management LP boosted its holdings in Orix Corp Ads by 88.2% in the 2nd quarter. Quantinno Capital Management LP now owns 481,327 shares of the real estate investment trust’s stock worth $10,839,000 after buying an additional 225,580 shares during the period. Millennium Management LLC raised its holdings in Orix Corp Ads by 3,021.1% during the 1st quarter. Millennium Management LLC now owns 203,967 shares of the real estate investment trust’s stock valued at $4,261,000 after acquiring an additional 197,432 shares during the period. Calamos Advisors LLC bought a new stake in Orix Corp Ads during the 1st quarter valued at $4,899,000. Calamos Wealth Management LLC purchased a new stake in shares of Orix Corp Ads during the fourth quarter worth $4,103,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Orix Corp Ads during the first quarter worth $3,287,000. Institutional investors own 1.73% of the company’s stock.

About Orix Corp Ads

ORIX Corporation ADS (NYSE: IX) is the American depositary share listing of ORIX Corporation, a diversified financial services group headquartered in Tokyo, Japan. The company operates across multiple business lines that include leasing and lending, real estate, investment and asset management, and a range of retail and corporate financial services. ORIX’s ADS program allows U.S. investors to access ownership in the Tokyo-based group through shares traded on the New York Stock Exchange.

Core activities include equipment leasing and installment financing for corporate customers, corporate lending and structured finance, and real estate development and property management.