Orion Group Holdings, Inc. (ORN) Stock Rating Upgraded by Zacks Investment Research
Orion Group Holdings, Inc. (NYSE:ORN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $8.00 price target on the construction company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.52% from the company’s current price.
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. “
ORN has been the subject of several other reports. Canaccord Genuity reissued a “hold” rating on shares of Orion Group Holdings in a research note on Monday, May 15th. FBR & Co reissued a “buy” rating and issued a $12.00 price objective on shares of Orion Group Holdings in a research note on Tuesday, March 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.70.
Shares of Orion Group Holdings (NYSE ORN) opened at 7.51 on Thursday. Orion Group Holdings has a 12-month low of $4.80 and a 12-month high of $11.11. The stock’s market cap is $208.71 million. The firm has a 50-day moving average price of $7.46 and a 200 day moving average price of $8.75.
Orion Group Holdings (NYSE:ORN) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.02. The business had revenue of $138.80 million during the quarter, compared to analysts’ expectations of $126.97 million. Orion Group Holdings had a positive return on equity of 2.03% and a negative net margin of 0.72%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. Equities research analysts predict that Orion Group Holdings will post $0.33 EPS for the current fiscal year.
In other Orion Group Holdings news, COO Larry Dwayne Breaux sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $7.21, for a total value of $25,235.00. Following the transaction, the chief operating officer now directly owns 142,123 shares of the company’s stock, valued at approximately $1,024,706.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher James Dealmeida sold 24,925 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $8.07, for a total value of $201,144.75. Following the completion of the transaction, the chief financial officer now directly owns 28,367 shares in the company, valued at $228,921.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,214 shares of company stock valued at $342,675. Company insiders own 6.17% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Orion Group Holdings during the fourth quarter valued at $5,507,000. Dimensional Fund Advisors LP raised its position in shares of Orion Group Holdings by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,808,756 shares of the construction company’s stock valued at $13,511,000 after buying an additional 240,368 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Orion Group Holdings by 14.3% in the first quarter. Vanguard Group Inc. now owns 1,436,313 shares of the construction company’s stock valued at $10,730,000 after buying an additional 179,950 shares during the last quarter. Systematic Financial Management LP purchased a new position in shares of Orion Group Holdings during the first quarter valued at $1,020,000. Finally, Two Sigma Investments LP purchased a new position in shares of Orion Group Holdings during the fourth quarter valued at $1,299,000. 90.60% of the stock is currently owned by institutional investors.
About Orion Group Holdings
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Orion Group Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion Group Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.