JPMorgan Chase & Co. Lowers Orion (NYSE:OEC) Price Target to $5.00

Orion (NYSE:OEC) had its target price reduced by analysts at JPMorgan Chase & Co. from $9.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 1.57% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Orion in a research note on Wednesday, October 8th. Mizuho set a $6.00 price target on Orion in a report on Monday, October 20th. Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Finally, UBS Group cut Orion from a “buy” rating to a “neutral” rating and dropped their target price for the company from $12.00 to $7.00 in a report on Friday, October 17th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Orion currently has an average rating of “Strong Sell” and a consensus target price of $6.00.

Orion Stock Performance

OEC stock opened at $5.08 on Friday. Orion has a one year low of $4.34 and a one year high of $19.48. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.64 and a current ratio of 1.08. The firm has a 50-day simple moving average of $5.89 and a two-hundred day simple moving average of $8.94. The firm has a market cap of $285.24 million, a price-to-earnings ratio of -8.76 and a beta of 1.07.

Orion (NYSE:OEC) last issued its earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $450.90 million during the quarter, compared to analyst estimates of $453.45 million. Orion had a negative net margin of 1.74% and a positive return on equity of 14.90%. Orion’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. On average, equities analysts forecast that Orion will post 1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

A number of hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC raised its holdings in Orion by 2.6% in the 3rd quarter. Pzena Investment Management LLC now owns 4,694,825 shares of the specialty chemicals company’s stock valued at $35,587,000 after buying an additional 117,628 shares during the period. Divisar Capital Management LLC increased its position in shares of Orion by 10.9% during the third quarter. Divisar Capital Management LLC now owns 2,450,414 shares of the specialty chemicals company’s stock valued at $18,574,000 after acquiring an additional 241,160 shares during the last quarter. Harvey Partners LLC raised its stake in shares of Orion by 15.5% in the 2nd quarter. Harvey Partners LLC now owns 2,424,995 shares of the specialty chemicals company’s stock valued at $25,438,000 after acquiring an additional 325,995 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Orion by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,350,415 shares of the specialty chemicals company’s stock worth $17,816,000 after acquiring an additional 7,045 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Orion by 6.9% in the 3rd quarter. American Century Companies Inc. now owns 2,138,131 shares of the specialty chemicals company’s stock worth $16,207,000 after acquiring an additional 137,890 shares during the last quarter. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

About Orion

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.