Omega Protein Corp. (OME) Lowered to Hold at Zacks Investment Research
Omega Protein Corp. (NYSE:OME) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Omega Protein Corporation, headquartered in Houston, is one of the nation’s leading producers of edible fish oil, which is high in nutritionally desirable Omega-3 fatty acids and is used in a variety of food products. Omega Protein also produces specialty fish meals for use in livestock feeds, and fish solubles which are used as an organic fertilizer and in other applications. (Company Press Release) “
OME has been the topic of a number of other research reports. Pivotal Research upped their target price on Omega Protein Corp. from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. DA Davidson upped their target price on Omega Protein Corp. from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Finally, Wunderlich downgraded Omega Protein Corp. from a “buy” rating to a “hold” rating and upped their target price for the stock from $22.00 to $26.00 in a research note on Friday, August 5th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $25.65.
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Omega Protein Corp. (NYSE:OME) opened at 23.31 on Wednesday. Omega Protein Corp. has a 12-month low of $14.58 and a 12-month high of $26.00. The firm has a 50-day moving average price of $24.49 and a 200-day moving average price of $21.09. The company has a market cap of $519.93 million, a P/E ratio of 19.12 and a beta of 0.62.
Omega Protein Corp. (NYSE:OME) last issued its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Omega Protein Corp. had a return on equity of 14.70% and a net margin of 7.03%. The firm had revenue of $112.65 million for the quarter, compared to the consensus estimate of $99.12 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that Omega Protein Corp. will post $2.03 earnings per share for the current fiscal year.
In related news, Director Gary L. Allee sold 11,200 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $24.34, for a total value of $272,608.00. Following the completion of the transaction, the director now owns 46,101 shares of the company’s stock, valued at approximately $1,122,098.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Edward Griffin sold 75,000 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $25.12, for a total value of $1,884,000.00. Following the completion of the transaction, the insider now directly owns 149,891 shares of the company’s stock, valued at approximately $3,765,261.92. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management boosted its position in Omega Protein Corp. by 13.7% in the second quarter. LSV Asset Management now owns 1,189,059 shares of the company’s stock worth $23,769,000 after buying an additional 142,828 shares during the last quarter. Franklin Resources Inc. boosted its position in Omega Protein Corp. by 168.5% in the second quarter. Franklin Resources Inc. now owns 1,062,300 shares of the company’s stock worth $21,235,000 after buying an additional 666,600 shares during the last quarter. Allianz Asset Management AG boosted its position in Omega Protein Corp. by 32.2% in the second quarter. Allianz Asset Management AG now owns 723,416 shares of the company’s stock worth $14,461,000 after buying an additional 176,218 shares during the last quarter. AQR Capital Management LLC boosted its position in Omega Protein Corp. by 24.5% in the second quarter. AQR Capital Management LLC now owns 621,397 shares of the company’s stock worth $12,421,000 after buying an additional 122,377 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Omega Protein Corp. by 2.6% in the second quarter. BlackRock Fund Advisors now owns 570,629 shares of the company’s stock worth $11,407,000 after buying an additional 14,472 shares during the last quarter. 86.85% of the stock is owned by institutional investors.
About Omega Protein Corp.
Omega Protein Corporation is a nutritional products company that develops, produces and delivers nutritious products across the world. The Company operates through two segments: animal nutrition and human nutrition. The Company’s animal nutrition segment consists primarily of two subsidiaries: Omega Protein, Inc (Omega Protein) and Omega Shipyard, Inc (Omega Shipyard).
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