Orion Group (NYSE:ORN) Reaches New 1-Year High – Still a Buy?

by · The Markets Daily

Orion Group Holdings, Inc. (NYSE:ORN – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.59 and last traded at $16.5590, with a volume of 104208 shares. The stock had previously closed at $16.41.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ORN. Wall Street Zen raised shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Zacks Research lowered Orion Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings raised Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, B. Riley Financial raised their price objective on Orion Group from $15.50 to $17.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Read Our Latest Stock Report on Orion Group

Orion Group Stock Down 1.2%

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.40. The stock has a market capitalization of $685.27 million, a price-to-earnings ratio of 80.62 and a beta of 1.37. The firm’s fifty day moving average is $14.38 and its 200-day moving average is $12.62.

Orion Group (NYSE:ORN – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 earnings per share for the quarter. The company had revenue of $216.30 million during the quarter, compared to analyst estimates of $198.12 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. On average, sell-side analysts predict that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at Orion Group

In related news, Director Margaret M. Foran sold 20,000 shares of Orion Group stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $14.62, for a total value of $292,400.00. Following the completion of the transaction, the director directly owned 137,541 shares in the company, valued at approximately $2,010,849.42. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 40,695 shares of company stock worth $606,512 over the last quarter. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Orion Group

Hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP acquired a new stake in shares of Orion Group during the second quarter worth $12,885,000. Invesco Ltd. lifted its position in shares of Orion Group by 79.4% in the 3rd quarter. Invesco Ltd. now owns 1,271,358 shares of the construction company’s stock worth $10,578,000 after buying an additional 562,863 shares during the last quarter. Simcoe Capital LLC acquired a new position in shares of Orion Group in the 4th quarter valued at about $4,509,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Orion Group in the 4th quarter valued at about $2,977,000. Finally, JPMorgan Chase & Co. grew its position in shares of Orion Group by 727.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 283,236 shares of the construction company’s stock valued at $2,569,000 after buying an additional 248,988 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Orion Group Company Profile

(Get Free Report)

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.

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