Orion (NYSE:OEC) Stock Price Target Lowered at UBS Group

Key Points

• UBS Group lowered Orion’s price target from $8.00 to $6.50 while maintaining a “neutral” rating, implying 10.83% upside from the prior close.
• Analyst sentiment remains weak: Orion has a consensus rating of “Strong Sell” from five analysts, with an average price target of $5.58.
• Orion recently reported quarterly EPS of $0.14, below the $0.16 consensus estimate, although revenue of $500.9 million exceeded expectations. The stock traded at $5.87, with a market capitalization of approximately $331.5 million.

Orion (NYSE:OEC - Get Free Report) had its price objective reduced by equities researchers at UBS Group from $8.00 to $6.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price target would suggest a potential upside of 10.83% from the company's previous close.

A number of other brokerages have also recently commented on OEC. Weiss Ratings reiterated a "sell (d)" rating on shares of Orion in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Orion from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Zacks Research upgraded shares of Orion from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Orion has a consensus rating of "Strong Sell" and a consensus price target of $5.58.

Orion Price Performance

Orion stock traded up $0.07 during trading on Monday, reaching $5.87. The company had a trading volume of 374,947 shares, compared to its average volume of 598,608. The firm has a market capitalization of $331.49 million, a PE ratio of -3.39 and a beta of 1.05. The firm's 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.59. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 1.03. Orion has a 1-year low of $4.34 and a 1-year high of $8.64.

Orion (NYSE:OEC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. The firm had revenue of $500.90 million for the quarter, compared to analyst estimates of $474.43 million. As a group, equities research analysts anticipate that Orion will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion

A number of institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Orion during the 2nd quarter worth $64,000. Allworth Financial LP lifted its position in Orion by 70.6% in the second quarter. Allworth Financial LP now owns 4,235 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 1,753 shares during the last quarter. Corient Private Wealth LP boosted its stake in Orion by 153.8% during the second quarter. Corient Private Wealth LP now owns 29,183 shares of the specialty chemicals company's stock worth $194,000 after buying an additional 17,683 shares during the period. AXQ Capital LP acquired a new stake in shares of Orion during the second quarter valued at about $128,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Orion during the second quarter valued at about $89,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

Orion Company Profile

Orion SA NYSE: OEC is a specialty chemicals company that develops, manufactures and sells carbon-based products. Its portfolio includes specialty and high-performance carbon black, conductive additives and other engineered materials used in applications such as coatings, plastics, inks, adhesives, batteries, tires and rubber products.

The company serves customers across a range of industries, including automotive, transportation, construction, electronics, energy storage and consumer products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.