Orion (NYSE:OEC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Orion (NYSE:OEC) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

OEC has been the subject of a number of other reports. UBS Group boosted their target price on shares of Orion from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price target on Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, November 28th. Finally, Mizuho set a $6.00 price objective on shares of Orion in a report on Monday, October 20th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Strong Sell” and an average price target of $5.67.

Orion Trading Down 3.7%

NYSE OEC traded down $0.24 during trading hours on Tuesday, hitting $6.07. 206,873 shares of the company were exchanged, compared to its average volume of 582,570. Orion has a 52 week low of $4.34 and a 52 week high of $16.63. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The stock has a 50-day moving average price of $5.47 and a 200 day moving average price of $7.32. The stock has a market cap of $340.55 million, a PE ratio of -10.44 and a beta of 1.07.

Orion (NYSE:OEC) last released its earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $450.90 million for the quarter, compared to the consensus estimate of $453.45 million. Orion had a negative net margin of 1.74% and a positive return on equity of 14.90%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. Analysts forecast that Orion will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orion

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Orion by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock worth $438,000 after purchasing an additional 1,097 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Orion by 18.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,687 shares of the specialty chemicals company’s stock valued at $144,000 after purchasing an additional 2,112 shares during the last quarter. Rhumbline Advisers boosted its stake in Orion by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 85,855 shares of the specialty chemicals company’s stock worth $901,000 after purchasing an additional 2,344 shares during the period. AXQ Capital LP boosted its stake in shares of Orion by 20.9% during the third quarter. AXQ Capital LP now owns 14,337 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 2,474 shares during the period. Finally, Prudential Financial Inc. raised its stake in Orion by 7.4% during the 2nd quarter. Prudential Financial Inc. now owns 39,275 shares of the specialty chemicals company’s stock valued at $412,000 after acquiring an additional 2,695 shares during the last quarter. 94.33% of the stock is owned by hedge funds and other institutional investors.

Orion Company Profile

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.