Orion (NYSE:OEC) Downgraded by Wall Street Zen to “Sell”

Orion (NYSE:OEC) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Other research analysts also recently issued reports about the company. Mizuho increased their price objective on Orion from $4.50 to $5.25 and gave the stock an “underperform” rating in a report on Wednesday, February 18th. UBS Group boosted their target price on Orion from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research report on Thursday, January 22nd. Finally, Zacks Research cut shares of Orion from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Orion currently has an average rating of “Strong Sell” and an average price target of $5.58.

Orion Price Performance

Shares of NYSE OEC opened at $6.49 on Wednesday. The company has a fifty day moving average price of $5.93 and a 200 day moving average price of $5.89. The firm has a market cap of $365.14 million, a PE ratio of -5.15 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.75. Orion has a 1-year low of $4.34 and a 1-year high of $13.02.

Orion (NYSE:OEC) last released its quarterly earnings results on Wednesday, February 18th. The specialty chemicals company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.26). The firm had revenue of $411.70 million during the quarter, compared to analyst estimates of $365.79 million. Orion had a negative net margin of 3.88% and a positive return on equity of 6.52%. Research analysts predict that Orion will post 1.73 earnings per share for the current fiscal year.

Institutional Trading of Orion

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in shares of Orion by 10.7% during the 1st quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company’s stock worth $3,661,000 after buying an additional 27,442 shares during the last quarter. AQR Capital Management LLC raised its holdings in Orion by 86.2% in the 1st quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company’s stock valued at $1,928,000 after acquiring an additional 69,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Orion by 3.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock valued at $438,000 after acquiring an additional 1,097 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Orion during the first quarter worth approximately $137,000. Finally, Jane Street Group LLC boosted its holdings in shares of Orion by 202.7% during the first quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company’s stock worth $1,566,000 after acquiring an additional 81,079 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.

About Orion

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.