Orion Marine Group Inc. (ORN) Stock Rating Upgraded by Zacks Investment Research
Orion Marine Group Inc. (NYSE:ORN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $8.25 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.40% from the stock’s previous close.
According to Zacks, “Orion Group Holdings, Inc. is a construction company which provides services on and off the water primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company’s operating segment consists of heavy civil marine construction segment and commercial concrete segment. Heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar and mesh across the light commercial, structural and other associated business areas. Orion Group Holdings, Inc., formerly known as Orion Marine Group Inc., is headquartered in Houston, Texas. “
A number of other equities analysts have also recently commented on the company. FBR & Co raised Orion Marine Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $6.00 to $9.00 in a report on Thursday, October 6th. DA Davidson increased their target price on Orion Marine Group from $5.50 to $6.00 and gave the company a “buy” rating in a report on Friday, August 5th. Imperial Capital increased their target price on Orion Marine Group from $6.00 to $6.50 and gave the company an “in-line” rating in a report on Monday, August 8th. Finally, Canaccord Genuity set a $5.50 target price on Orion Marine Group and gave the company a “hold” rating in a report on Saturday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.05.
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Shares of Orion Marine Group (NYSE:ORN) opened at 7.34 on Wednesday. The stock’s market capitalization is $203.17 million. Orion Marine Group has a 52-week low of $3.25 and a 52-week high of $7.56. The company’s 50 day moving average price is $6.37 and its 200 day moving average price is $5.66.
Orion Marine Group (NYSE:ORN) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $140.30 million for the quarter, compared to analysts’ expectations of $147.21 million. Orion Marine Group had a negative return on equity of 3.52% and a negative net margin of 1.40%. The business’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) EPS. On average, equities research analysts anticipate that Orion Marine Group will post $0.28 EPS for the current year.
Several large investors have recently bought and sold shares of ORN. Spark Investment Management LLC bought a new stake in Orion Marine Group during the second quarter valued at approximately $103,000. True Bearing Asset Management LP bought a new stake in Orion Marine Group during the second quarter valued at approximately $150,000. Teachers Advisors Inc. boosted its stake in Orion Marine Group by 4.1% in the second quarter. Teachers Advisors Inc. now owns 48,012 shares of the company’s stock valued at $255,000 after buying an additional 1,896 shares in the last quarter. Rhumbline Advisers boosted its stake in Orion Marine Group by 1.1% in the second quarter. Rhumbline Advisers now owns 48,330 shares of the company’s stock valued at $257,000 after buying an additional 546 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Orion Marine Group by 3.4% in the first quarter. Prudential Financial Inc. now owns 64,308 shares of the company’s stock valued at $333,000 after buying an additional 2,100 shares in the last quarter. 87.81% of the stock is owned by hedge funds and other institutional investors.
Orion Marine Group Company Profile
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the 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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