Canaccord Genuity Trims Orion Group Holdings, Inc. (ORN) Target Price to $7.00
Orion Group Holdings, Inc. (NYSE:ORN) had its target price lowered by Canaccord Genuity from $9.00 to $7.00 in a note issued to investors on Friday. The brokerage presently has a “hold” rating on the construction company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 13.27% from the stock’s current price.
A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Orion Group Holdings from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Thursday, June 29th. FBR & Co restated a “buy” rating and issued a $12.00 price target on shares of Orion Group Holdings in a research report on Friday, May 5th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.30.
Orion Group Holdings (NYSE ORN) traded up 2.10% during midday trading on Friday, hitting $6.31. 128,431 shares of the stock traded hands. Orion Group Holdings has a 12-month low of $5.55 and a 12-month high of $11.11. The firm’s 50 day moving average is $7.27 and its 200-day moving average is $8.18. The stock’s market capitalization is $175.36 million.
Orion Group Holdings (NYSE:ORN) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.16. Orion Group Holdings had a positive return on equity of 2.03% and a negative net margin of 0.72%. The company had revenue of $137.40 million during the quarter, compared to the consensus estimate of $161.68 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts anticipate that Orion Group Holdings will post $0.33 EPS for the current fiscal year.
In other Orion Group Holdings news, COO Larry Dwayne Breaux sold 3,500 shares of Orion Group Holdings stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $7.21, for a total value of $25,235.00. Following the transaction, the chief operating officer now owns 142,123 shares in the company, valued at $1,024,706.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher James Dealmeida sold 24,925 shares of Orion Group Holdings stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $8.07, for a total value of $201,144.75. Following the completion of the transaction, the chief financial officer now owns 28,367 shares in the company, valued at approximately $228,921.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,214 shares of company stock worth $342,675. Company insiders own 6.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORN. Arizona State Retirement System boosted its position in Orion Group Holdings by 1.4% in the first quarter. Arizona State Retirement System now owns 14,435 shares of the construction company’s stock worth $108,000 after buying an additional 200 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Orion Group Holdings by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,840 shares of the construction company’s stock worth $148,000 after buying an additional 860 shares in the last quarter. Trexquant Investment LP boosted its position in Orion Group Holdings by 41.0% in the first quarter. Trexquant Investment LP now owns 14,848 shares of the construction company’s stock worth $111,000 after buying an additional 4,316 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Orion Group Holdings during the fourth quarter worth about $179,000. Finally, LS Investment Advisors LLC boosted its position in Orion Group Holdings by 1,915.0% in the first quarter. LS Investment Advisors LLC now owns 18,719 shares of the construction company’s stock worth $140,000 after buying an additional 17,790 shares in the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.
Orion Group Holdings Company Profile
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in 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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