ORBCOMM Inc. (ORBC) Given Consensus Rating of “Buy” by Brokerages
ORBCOMM Inc. (NASDAQ:ORBC) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $13.30.
ORBC has been the topic of a number of analyst reports. Canaccord Genuity restated a “buy” rating and issued a $14.00 price objective on shares of ORBCOMM in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of ORBCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Northland Securities set a $13.00 price objective on shares of ORBCOMM and gave the company a “buy” rating in a report on Monday, August 28th. Finally, ValuEngine upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st.
In related news, CFO Robert G. Costantini sold 140,169 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $11.26, for a total value of $1,578,302.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerome B. Eisenberg sold 7,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $11.07, for a total transaction of $77,490.00. Following the completion of the transaction, the director now directly owns 981,363 shares in the company, valued at $10,863,688.41. The disclosure for this sale can be found here. Insiders sold a total of 438,864 shares of company stock worth $4,926,095 over the last 90 days. Company insiders own 9.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of ORBCOMM in the 3rd quarter valued at $107,000. Principal Financial Group Inc. grew its position in shares of ORBCOMM by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 12,006 shares of the technology company’s stock valued at $115,000 after buying an additional 447 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of ORBCOMM in the 2nd quarter valued at $120,000. Legal & General Group Plc grew its position in shares of ORBCOMM by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock valued at $180,000 after buying an additional 670 shares during the last quarter. Finally, Paloma Partners Management Co grew its position in shares of ORBCOMM by 3.3% in the 1st quarter. Paloma Partners Management Co now owns 19,881 shares of the technology company’s stock valued at $190,000 after buying an additional 644 shares during the last quarter. 76.87% of the stock is currently owned by hedge funds and other institutional investors.
ORBCOMM (NASDAQ:ORBC) traded up $0.20 during trading on Monday, reaching $10.01. 1,311,500 shares of the company’s stock were exchanged, compared to its average volume of 538,252. ORBCOMM has a 12 month low of $7.77 and a 12 month high of $11.99. The company has a current ratio of 2.79, a quick ratio of 2.21 and a debt-to-equity ratio of 0.99.
ORBCOMM (NASDAQ:ORBC) last released its earnings results on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The business had revenue of $69.37 million for the quarter, compared to analyst estimates of $65.62 million. ORBCOMM had a negative return on equity of 8.01% and a negative net margin of 25.32%. ORBCOMM’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. equities analysts expect that ORBCOMM will post -0.73 earnings per share for the current fiscal year.
ORBCOMM Company Profile
ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government.
Receive News & Ratings for ORBCOMM Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ORBCOMM Inc. and related companies with MarketBeat.com's FREE daily email newsletter.