Orion Group Holdings, Inc. (ORN) Stock Rating Reaffirmed by Canaccord Genuity
Orion Group Holdings, Inc. (NYSE:ORN)‘s stock had its “hold” rating reiterated by stock analysts at Canaccord Genuity in a note issued to investors on Wednesday. They presently have a $7.00 target price on the construction company’s stock. Canaccord Genuity’s target price would suggest a potential downside of 2.91% from the company’s current price.
The analysts wrote, “We hosted senior management of ORN for a day of meetings in Boston. Interest was high, and while we continue to expect some near-term weakness for the stock once 2017 guidance is reduced, pressure could be short-lived considering dredging and reconstruction opportunities. Nevertheless, we prefer to get the number cut out of the way prior to any potential upgrade, and remain HOLD for now. Investment highlights We continue to await an update to Q3/17 results and anticipate both a near-term drag to revenues and profits with approximately 85% of the business impacted by hurricane- related delays in some capacity (with some delays as long as 3.5 weeks).””
Several other equities analysts have also issued reports on the company. FBR & Co decreased their target price on Orion Group Holdings from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 18th. Zacks Investment Research lowered Orion Group Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th.
Orion Group Holdings (ORN) traded up 1.98% during mid-day trading on Wednesday, hitting $7.21. The stock had a trading volume of 66,566 shares. The firm’s 50-day moving average price is $6.37 and its 200 day moving average price is $6.92. The company’s market cap is $203.34 million. Orion Group Holdings has a one year low of $5.17 and a one year high of $11.11.
Orion Group Holdings (NYSE:ORN) last posted its earnings results on Thursday, August 3rd. The construction company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.16). Orion Group Holdings had a positive return on equity of 1.37% and a negative net margin of 0.98%. The firm had revenue of $137.40 million for the quarter, compared to analyst estimates of $161.68 million. During the same period in the previous year, the company posted ($0.03) EPS. Orion Group Holdings’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Orion Group Holdings will post $0.02 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. QS Investors LLC raised its position in Orion Group Holdings by 94.3% in the 2nd quarter. QS Investors LLC now owns 13,626 shares of the construction company’s stock valued at $102,000 after purchasing an additional 6,613 shares in the last quarter. Stevens Capital Management LP raised its position in Orion Group Holdings by 8.7% in the 2nd quarter. Stevens Capital Management LP now owns 14,314 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,151 shares in the last quarter. Arizona State Retirement System raised its position in Orion Group Holdings by 1.4% in the 1st quarter. Arizona State Retirement System now owns 14,435 shares of the construction company’s stock valued at $108,000 after purchasing an additional 200 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Orion Group Holdings in the 2nd quarter valued at about $133,000. Finally, Voya Investment Management LLC raised its position in Orion Group Holdings by 21.6% in the 2nd quarter. Voya Investment Management LLC now owns 17,899 shares of the construction company’s stock valued at $134,000 after purchasing an additional 3,175 shares in the last quarter. 87.79% of the stock is currently owned by institutional investors.
Orion Group Holdings Company Profile
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.
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