Orion Group (NYSE:ORN) Lifted to Buy at B. Riley

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B. Riley upgraded shares of Orion Group (NYSE:ORN) from a neutral rating to a buy rating in a report published on Monday, Benzinga reports. The firm currently has $5.00 price target on the construction company’s stock, up from their prior price target of $4.00.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Hudson Technologies from a sell rating to a hold rating in a research report on Wednesday, May 29th. Mizuho initiated coverage on shares of Merck & Co., Inc. in a research report on Tuesday, July 2nd. They set a buy rating and a $97.00 price objective on the stock. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, TheStreet raised shares of Taitron Components from a c+ rating to a b- rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Orion Group has an average rating of Buy and an average target price of $6.97.

NYSE:ORN traded up $0.04 during midday trading on Monday, reaching $3.66. 170,432 shares of the stock traded hands, compared to its average volume of 321,181. The business has a fifty day moving average of $2.45. Orion Group has a 12 month low of $1.80 and a 12 month high of $9.83. The company has a quick ratio of 1.39, a current ratio of 1.40 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $106.11 million, a PE ratio of -9.89 and a beta of 1.03.

Orion Group (NYSE:ORN) last posted its quarterly earnings results on Thursday, May 9th. The construction company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). Orion Group had a negative net margin of 20.19% and a negative return on equity of 9.60%. The firm had revenue of $143.11 million for the quarter, compared to the consensus estimate of $126.76 million. As a group, analysts forecast that Orion Group will post -0.27 EPS for the current fiscal year.

In other Orion Group news, VP Peter R. Buchler bought 30,000 shares of Orion Group stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $1.98 per share, with a total value of $59,400.00. Following the transaction, the vice president now directly owns 180,656 shares of the company’s stock, valued at $357,698.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert L. Tabb bought 20,000 shares of Orion Group stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $1.94 per share, for a total transaction of $38,800.00. Following the completion of the transaction, the chief financial officer now directly owns 26,872 shares in the company, valued at $52,131.68. The disclosure for this purchase can be found here. Insiders bought a total of 63,285 shares of company stock worth $124,098 over the last ninety days. Insiders own 7.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Orion Group by 42.9% in the 1st quarter. SG Americas Securities LLC now owns 16,374 shares of the construction company’s stock worth $48,000 after buying an additional 4,914 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Orion Group by 1.9% in the 1st quarter. Wedge Capital Management L L P NC now owns 321,809 shares of the construction company’s stock worth $940,000 after buying an additional 6,026 shares during the period. Prudential Financial Inc. grew its position in Orion Group by 14.5% during the 4th quarter. Prudential Financial Inc. now owns 53,986 shares of the construction company’s stock valued at $232,000 after purchasing an additional 6,838 shares during the last quarter. US Bancorp DE grew its position in Orion Group by 3.9% during the 1st quarter. US Bancorp DE now owns 211,957 shares of the construction company’s stock valued at $619,000 after purchasing an additional 8,000 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Orion Group by 19.0% during the 4th quarter. First Trust Advisors LP now owns 52,215 shares of the construction company’s stock valued at $224,000 after purchasing an additional 8,333 shares during the last quarter. 93.36% of the stock is currently owned by hedge funds and other institutional investors.

About Orion Group

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.

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