Canaccord Genuity reaffirmed their buy rating on shares of Orion Group (NYSE:ORN) in a report published on Thursday morning. Canaccord Genuity currently has a $9.00 price objective on the construction company’s stock.
“We reiterate a BUY rating and $9 price target following healthy Q4 EPS upside, as marine construction demand was buoyed by hurricane recovery efforts. While backlog was down Y/Y this was due largely to a tough comparison with a large award in the prior year’s Q4. We believe EBITDA has stabilized with solid growth expected in 2018, accelerating somewhat in 2019.”,” the firm’s analyst wrote.
ORN has been the topic of several other research reports. Noble Financial assumed coverage on shares of Orion Group in a research report on Thursday, January 25th. They set a buy rating and a $10.00 price target on the stock. Zacks Investment Research upgraded shares of Orion Group from a sell rating to a hold rating in a research note on Tuesday, February 13th. ValuEngine lowered shares of Orion Group from a hold rating to a sell rating in a research note on Friday, February 2nd. Finally, B. Riley reiterated a buy rating and set a $10.00 price objective on shares of Orion Group in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $9.75.
Orion Group (NYSE:ORN) last issued its quarterly earnings results on Thursday, March 8th. The construction company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. Orion Group had a net margin of 0.07% and a negative return on equity of 1.74%. The business had revenue of $162.20 million for the quarter, compared to analysts’ expectations of $176.06 million. During the same quarter last year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. analysts expect that Orion Group will post 0.2 earnings per share for the current year.
In related news, insider Mark R. Stauffer sold 20,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $7.56, for a total transaction of $151,200.00. Following the sale, the insider now owns 362,631 shares in the company, valued at $2,741,490.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC raised its stake in Orion Group by 21.6% during the second quarter. Voya Investment Management LLC now owns 17,899 shares of the construction company’s stock worth $134,000 after acquiring an additional 3,175 shares during the period. Alliancebernstein L.P. acquired a new stake in Orion Group during the second quarter worth about $143,000. SG Americas Securities LLC acquired a new stake in Orion Group during the fourth quarter worth about $188,000. The Manufacturers Life Insurance Company increased its stake in shares of Orion Group by 17.6% in the second quarter. The Manufacturers Life Insurance Company now owns 24,887 shares of the construction company’s stock valued at $186,000 after purchasing an additional 3,721 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Orion Group by 69.6% in the third quarter. Wells Fargo & Company MN now owns 32,271 shares of the construction company’s stock valued at $212,000 after purchasing an additional 13,240 shares during the period. Hedge funds and other institutional investors own 90.10% of the company’s stock.
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Orion Group Company Profile
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in 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.
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