Orion Marine Group Inc. (ORN) Stock Rating Upgraded by Zacks Investment Research
Orion Marine Group Inc. (NYSE:ORN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $8.25 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.40% from the company’s previous close.
According to Zacks, “Orion Group Holdings, Inc. is a construction company which provides services on and off the water primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company’s operating segment consists of heavy civil marine construction segment and commercial concrete segment. Heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar and mesh across the light commercial, structural and other associated business areas. Orion Group Holdings, Inc., formerly known as Orion Marine Group Inc., is headquartered in Houston, Texas. “
ORN has been the subject of a number of other research reports. FBR & Co upgraded Orion Marine Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $6.00 to $9.00 in a report on Thursday, October 6th. Imperial Capital raised their price target on Orion Marine Group from $6.00 to $6.50 and gave the company an “in-line” rating in a report on Monday, August 8th. DA Davidson raised their price target on Orion Marine Group from $5.50 to $6.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Canaccord Genuity set a $5.50 price target on Orion Marine Group and gave the company a “hold” rating in a report on Saturday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.05.
Orion Marine Group (NYSE:ORN) opened at 7.34 on Wednesday. Orion Marine Group has a 12 month low of $3.25 and a 12 month high of $7.56. The stock has a 50 day moving average of $6.37 and a 200 day moving average of $5.66. The company’s market capitalization is $203.17 million.
Orion Marine Group (NYSE:ORN) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.04. The firm earned $140.30 million during the quarter, compared to the consensus estimate of $147.21 million. Orion Marine Group had a negative return on equity of 3.52% and a negative net margin of 1.40%. Orion Marine Group’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS. Equities analysts anticipate that Orion Marine Group will post $0.28 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Spark Investment Management LLC bought a new position in shares of Orion Marine Group during the second quarter valued at $103,000. True Bearing Asset Management LP bought a new position in shares of Orion Marine Group during the second quarter valued at $150,000. Teachers Advisors Inc. increased its position in shares of Orion Marine Group by 4.1% in the second quarter. Teachers Advisors Inc. now owns 48,012 shares of the company’s stock valued at $255,000 after buying an additional 1,896 shares during the last quarter. Rhumbline Advisers increased its position in shares of Orion Marine Group by 1.1% in the second quarter. Rhumbline Advisers now owns 48,330 shares of the company’s stock valued at $257,000 after buying an additional 546 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Orion Marine Group by 3.4% in the first quarter. Prudential Financial Inc. now owns 64,308 shares of the company’s stock valued at $333,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 87.81% of the company’s stock.
About Orion Marine Group
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.
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