Orion (NYSE:OEC) Stock Rating Lowered by Zacks Research

Orion (NYSE:OEC) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on OEC. UBS Group upped their target price on Orion from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. dropped their price objective on shares of Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, November 28th. Mizuho boosted their target price on shares of Orion from $4.50 to $5.25 and gave the company an “underperform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $5.58.

Orion Stock Performance

OEC opened at $5.65 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.75. Orion has a 12-month low of $4.34 and a 12-month high of $14.29. The firm has a 50 day moving average of $6.08 and a two-hundred day moving average of $6.75. The firm has a market capitalization of $317.95 million, a PE ratio of -4.48 and a beta of 1.06.

Orion (NYSE:OEC) last released its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.26). The business had revenue of $411.70 million during the quarter, compared to analyst estimates of $365.79 million. Orion had a positive return on equity of 6.52% and a negative net margin of 3.88%. On average, analysts anticipate that Orion will post 1.73 EPS for the current year.

Institutional Trading of Orion

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP boosted its holdings in Orion by 430.9% in the 4th quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 4,757 shares during the last quarter. Performa Ltd US LLC lifted its position in shares of Orion by 690.0% in the fourth quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 6,900 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Orion in the fourth quarter worth approximately $53,000. Public Employees Retirement System of Ohio increased its position in shares of Orion by 277.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,147 shares of the specialty chemicals company’s stock worth $59,000 after purchasing an additional 8,194 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Orion by 16.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,340 shares of the specialty chemicals company’s stock valued at $65,000 after purchasing an additional 1,742 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

About Orion

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.