Orion Group (NYSE:ORN) Reaches New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

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

Orion Group Stock Up 2.6%

The company’s fifty day simple moving average is $13.99 and its 200 day simple moving average is $12.46. The company has a quick ratio of 1.40, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $646.26 million, a PE ratio of 76.03 and a beta of 1.37.

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

Insider Buying and Selling at Orion Group

In related news, Director Margaret M. Foran sold 10,695 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $15.70, for a total transaction of $167,911.50. Following the completion of the transaction, the director owned 116,846 shares of the company’s stock, valued at $1,834,482.20. This trade represents a 8.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 40,695 shares of company stock valued at $606,512. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ORN. Quarry LP purchased a new stake in shares of Orion Group during the third quarter valued at approximately $33,000. Fifth Third Bancorp purchased a new position in Orion Group in the 1st quarter worth approximately $52,000. Comerica Bank lifted its position in Orion Group by 219.7% in the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after acquiring an additional 3,562 shares in the last quarter. OpenArc Corporate Advisory LLC bought a new position in Orion Group in the 4th quarter valued at approximately $100,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Orion Group during the 3rd quarter valued at $86,000. Institutional investors own 70.25% of the company’s stock.

Orion Group Company Profile

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.