JPMorgan Chase & Co. Initiates Coverage on Orion Group (NYSE:ORN)

Investment analysts at JPMorgan Chase & Co. began coverage on shares of Orion Group (NYSE:ORN) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage set an “overweight” rating and a $16.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 30.95% from the company’s previous close.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Orion Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.75.

Orion Group Stock Down 3.5%

ORN stock opened at $12.22 on Thursday. The stock has a fifty day moving average of $10.36 and a 200-day moving average of $9.02. Orion Group has a fifty-two week low of $4.64 and a fifty-two week high of $13.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.35 and a current ratio of 1.36. The company has a market capitalization of $487.50 million, a price-to-earnings ratio of 53.12, a PEG ratio of 7.23 and a beta of 1.16.

Orion Group (NYSE:ORN) last announced its quarterly earnings results on Wednesday, October 29th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Orion Group had a net margin of 1.13% and a return on equity of 6.88%. The company had revenue of $225.10 million for the quarter, compared to analysts’ expectations of $224.47 million. As a group, equities research analysts predict that Orion Group will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Orion Group

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Orion Group during the 3rd quarter valued at about $33,000. First Horizon Advisors Inc. raised its stake in Orion Group by 171.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock valued at $41,000 after purchasing an additional 2,832 shares during the period. Comerica Bank grew its stake in Orion Group by 219.7% during the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after acquiring an additional 3,562 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Orion Group during the third quarter valued at approximately $86,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Orion Group in the third quarter worth $87,000. 70.25% of the stock is owned by institutional investors.

Orion Group Company Profile

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.