Orion Group (NYSE:ORN) Downgraded to Strong Sell Rating by Zacks Research

Orion Group (NYSE:ORN) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms also recently issued reports on ORN. Weiss Ratings downgraded shares of Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. 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 cut Orion Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 1st. Oppenheimer began coverage on shares of Orion Group in a research report on Tuesday, July 7th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Roth Capital set a $15.00 price target on shares of Orion Group in a research note on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.20.

Orion Group Stock Up 2.1%

Shares of NYSE ORN opened at $10.40 on Tuesday. Orion Group has a 1 year low of $6.44 and a 1 year high of $17.40. The company has a market capitalization of $421.02 million, a price-to-earnings ratio of 115.55 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.52 and a quick ratio of 1.51. The business has a 50-day moving average of $13.78 and a two-hundred day moving average of $13.04.

Orion Group (NYSE:ORN) last posted its earnings results on Wednesday, July 29th. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The business had revenue of $221.88 million for the quarter, compared to analysts’ expectations of $225.72 million. Orion Group had a return on equity of 3.07% and a net margin of 0.40%. On average, analysts forecast that Orion Group will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Ledford acquired 20,000 shares of Orion Group stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the transaction, the director directly owned 43,112 shares in the company, valued at approximately $414,737.44. This trade represents a 86.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary E. Sullivan bought 3,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $9.79 per share, with a total value of $29,370.00. Following the completion of the purchase, the director owned 277,904 shares in the company, valued at approximately $2,720,680.16. This represents a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 28,000 shares of company stock valued at $270,820 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Orion Group

Several hedge funds and other institutional investors have recently made changes to their positions in ORN. Quarry LP purchased a new stake in Orion Group during the third quarter worth about $33,000. Comerica Bank boosted its stake in shares of Orion Group by 219.7% during the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after acquiring an additional 3,562 shares in the last quarter. Fifth Third Bancorp purchased a new position in Orion Group in the 1st quarter valued at approximately $52,000. Susquehanna Fundamental Investments LLC acquired a new position in Orion Group during the third quarter worth $86,000. Finally, Millennium Management LLC acquired a new position in Orion Group during the third quarter worth $91,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Orion Group

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.