Orion Group (NYSE:ORN) Hits New 12-Month High – Should You Buy?

Orion Group Holdings, Inc. (NYSE:ORN) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $16.21 and last traded at $15.5760, with a volume of 552056 shares trading hands. The stock had previously closed at $15.89.

Analysts Set New Price Targets

Several brokerages have commented on ORN. Zacks Research raised Orion Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Finally, B. Riley Financial upped their price objective on shares of Orion Group from $15.50 to $17.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $17.00.

Orion Group Stock Down 2.0%

The firm has a market capitalization of $630.52 million, a P/E ratio of 74.17 and a beta of 1.37. The company has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $12.38. The company has a quick ratio of 1.40, a current ratio of 1.41 and a debt-to-equity ratio of 0.43.

Orion Group (NYSE:ORN) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.05 earnings per share for the quarter. The firm had revenue of $216.30 million during the quarter, compared to the consensus estimate of $198.12 million. Orion Group had a return on equity of 4.44% and a net margin of 0.98%. On average, equities analysts expect that Orion Group Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at Orion Group

In other Orion Group news, Director Margaret M. Foran sold 20,000 shares of Orion Group stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $14.62, for a total value of $292,400.00. Following the completion of the transaction, the director directly owned 137,541 shares of the company’s stock, valued at approximately $2,010,849.42. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 40,695 shares of company stock valued at $606,512 over the last three months. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Orion Group

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Orion Group by 55.5% in the 1st quarter. Royal Bank of Canada now owns 64,866 shares of the construction company’s stock valued at $707,000 after acquiring an additional 23,155 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Orion Group by 102.8% in the 1st quarter. Sei Investments Co. now owns 386,663 shares of the construction company’s stock worth $4,215,000 after purchasing an additional 196,041 shares in the last quarter. Globeflex Capital L P raised its stake in shares of Orion Group by 481.0% in the first quarter. Globeflex Capital L P now owns 71,310 shares of the construction company’s stock worth $777,000 after purchasing an additional 59,036 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Orion Group by 0.6% during the first quarter. First Trust Advisors LP now owns 120,534 shares of the construction company’s stock valued at $1,314,000 after purchasing an additional 697 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Orion Group by 27.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 378,732 shares of the construction company’s stock valued at $4,257,000 after purchasing an additional 80,735 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

About Orion Group

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.