Orange (ORAN) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Orange (NYSE:ORAN) from a hold rating to a buy rating in a report published on Tuesday. The firm currently has $18.00 price target on the technology company’s stock.

According to Zacks, “Orange SA provides telecommunications services. It offers a range of fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other value-added services to consumers, businesses, and other telecommunications operators under the Orange brand worldwide. Orange SA, formerly known as France Telecom S.A., is based in Paris, France. “

ORAN has been the topic of several other reports. Argus initiated coverage on shares of Orange in a research note on Monday, July 16th. They issued a buy rating and a $21.00 price target on the stock. ValuEngine lowered shares of Orange from a buy rating to a hold rating in a research report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $19.50.

Shares of Orange stock opened at $15.72 on Tuesday. The company has a market capitalization of $42.99 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 0.52 and a beta of 0.63. Orange has a 52 week low of $15.67 and a 52 week high of $18.57. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.72 and a current ratio of 0.75.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of Orange during the second quarter worth approximately $416,000. Tower Research Capital LLC TRC purchased a new position in shares of Orange during the second quarter worth approximately $133,000. OLD Mission Capital LLC purchased a new position in shares of Orange during the second quarter worth approximately $1,290,000. Bank of America Corp DE grew its position in shares of Orange by 5.9% during the second quarter. Bank of America Corp DE now owns 5,916,094 shares of the technology company’s stock worth $98,621,000 after acquiring an additional 330,125 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Orange by 11.6% during the second quarter. Morgan Stanley now owns 2,476,438 shares of the technology company’s stock worth $41,282,000 after acquiring an additional 257,097 shares during the last quarter. Institutional investors and hedge funds own 1.44% of the company’s stock.

About Orange

Orange SA provides a range of fixed telephony and mobile telecommunications, data transmission, and other value-added services to consumers, businesses, and other telecommunications operators in Europe, Africa, and the Middle East. It offers mobile, fixed-line telephony, fixed broadband, business solutions and networks, and carrier services; sells mobile devices, equipment, and accessories; and sells and rents fixed-line equipment.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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