Orion Group (NYSE:ORN) Rating Lowered to Strong Sell at Zacks Research

Orion Group (NYSE:ORN) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on ORN. Wall Street Zen cut shares of Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. boosted their target price on Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Oppenheimer started coverage on Orion Group in a research note on Tuesday, July 7th. They set an “outperform” rating and a $20.00 price target for the company. Weiss Ratings lowered Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, Roth Capital set a $15.00 price target on shares of Orion Group in a research note on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.20.

Orion Group Stock Up 2.1%

Shares of NYSE ORN opened at $10.40 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.62. Orion Group has a 12-month low of $6.44 and a 12-month high of $17.40. The firm’s 50-day moving average price is $13.78 and its 200-day moving average price is $13.04. The stock has a market capitalization of $421.02 million, a price-to-earnings ratio of 115.55 and a beta of 1.40.

Orion Group (NYSE:ORN) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The company had revenue of $221.88 million for the quarter, compared to the consensus estimate of $225.72 million. Orion Group had a return on equity of 3.07% and a net margin of 0.40%. On average, equities research analysts anticipate that Orion Group will post 0.12 EPS for the current fiscal year.

Insider Activity at Orion Group

In other Orion Group news, EVP Edward Chipman Earle purchased 5,000 shares of Orion Group stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $9.81 per share, with a total value of $49,050.00. Following the completion of the transaction, the executive vice president owned 150,042 shares in the company, valued at approximately $1,471,912.02. This trade represents a 3.45% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Ledford bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average price of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the purchase, the director owned 43,112 shares in the company, valued at $414,737.44. The trade was a 86.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 28,000 shares of company stock valued at $270,820 over the last quarter. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP acquired a new position in Orion Group in the 2nd quarter worth approximately $12,885,000. Invesco Ltd. grew its position in Orion Group by 79.4% during the 3rd quarter. Invesco Ltd. now owns 1,271,358 shares of the construction company’s stock worth $10,578,000 after purchasing an additional 562,863 shares during the period. Simcoe Capital LLC acquired a new position in shares of Orion Group in the 4th quarter valued at about $4,509,000. JPMorgan Chase & Co. grew its holdings in Orion Group by 727.0% during the second quarter. JPMorgan Chase & Co. now owns 283,236 shares of the construction company’s stock worth $2,569,000 after acquiring an additional 248,988 shares during the period. Finally, Sei Investments Co. lifted its holdings in Orion Group by 102.8% in the first quarter. Sei Investments Co. now owns 386,663 shares of the construction company’s stock valued at $4,215,000 after acquiring an additional 196,041 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Orion Group Company Profile

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.