DA Davidson Boosts Orion Marine Group Inc. (ORN) Price Target to $8.00
Orion Marine Group Inc. (NYSE:ORN) had its target price raised by analysts at DA Davidson from $6.00 to $8.00 in a report released on Thursday. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential upside of 12.52% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Orion Marine Group from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Wednesday. Canaccord Genuity set a $5.50 target price on shares of Orion Marine Group and gave the company a “hold” rating in a research report on Saturday, August 6th. Imperial Capital upped their price objective on shares of Orion Marine Group from $6.00 to $6.50 and gave the stock an “in-line” rating in a research report on Monday, August 8th. Finally, FBR & Co raised shares of Orion Marine Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $6.00 to $9.00 in a research report on Thursday, October 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.45.
Shares of Orion Marine Group (NYSE:ORN) traded down 3.40% during midday trading on Thursday, hitting $7.11. 108,286 shares of the stock traded hands. The firm’s 50-day moving average is $6.41 and its 200 day moving average is $5.67. Orion Marine Group has a 52 week low of $3.25 and a 52 week high of $7.56. The company’s market capitalization is $196.80 million.
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Orion Marine Group (NYSE:ORN) last announced its earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.04. The business earned $140.30 million during the quarter, compared to the consensus estimate of $147.21 million. Orion Marine Group had a negative net margin of 1.40% and a negative return on equity of 3.52%. The company’s revenue was up 63.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. Equities analysts forecast that Orion Marine Group will post $0.28 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of ORN. Spark Investment Management LLC bought a new position in Orion Marine Group during the second quarter worth approximately $103,000. True Bearing Asset Management LP bought a new position in Orion Marine Group during the second quarter worth approximately $150,000. Teachers Advisors Inc. boosted its position in Orion Marine Group by 4.1% in the second quarter. Teachers Advisors Inc. now owns 48,012 shares of the company’s stock worth $255,000 after buying an additional 1,896 shares during the period. Rhumbline Advisers boosted its position in Orion Marine Group by 1.1% in the second quarter. Rhumbline Advisers now owns 48,330 shares of the company’s stock worth $257,000 after buying an additional 546 shares during the period. Finally, Prudential Financial Inc. boosted its position in Orion Marine Group by 3.4% in the first quarter. Prudential Financial Inc. now owns 64,308 shares of the company’s stock worth $333,000 after buying an additional 2,100 shares during the period. 87.81% of the stock is owned by hedge funds and other institutional investors.
About Orion Marine Group
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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