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

Key Points

• Zacks Research downgraded Orion Group from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with a $17.20 target price.
• Orion Group reported quarterly EPS of $0.02, missing the $0.06 consensus estimate, and revenue of $221.88 million versus expectations of $225.72 million.
• The stock opened at $10.40, well below its 50-day moving average of $13.78; however, insiders bought 28,000 shares worth approximately $270,820 over the past 90 days.

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

A number of other brokerages have also recently commented on ORN. Wall Street Zen cut Orion Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings lowered Orion Group from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. Roth Capital set a $15.00 target price on shares of Orion Group in a research note on Thursday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Orion Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Finally, Oppenheimer initiated coverage on shares of Orion Group in a research report on Tuesday, July 7th. They set an "outperform" rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $17.20.

Orion Group Price Performance

Shares of NYSE ORN opened at $10.40 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.51 and a current ratio of 1.52. The firm has a fifty day moving average of $13.78 and a 200 day moving average of $13.04. The firm has a market cap of $421.02 million, a PE ratio of 115.55 and a beta of 1.40. Orion Group has a one year low of $6.44 and a one year high of $17.40.

Orion Group (NYSE:ORN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04). Orion Group had a net margin of 0.40% and a return on equity of 3.07%. The company had revenue of $221.88 million for the quarter, compared to analysts' expectations of $225.72 million. As a group, research analysts predict that Orion Group will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Orion Group news, EVP Edward Chipman Earle acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $9.81 per share, for a total transaction of $49,050.00. Following the completion of the acquisition, the executive vice president owned 150,042 shares of the company's stock, valued at approximately $1,471,912.02. The trade was a 3.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Ledford bought 20,000 shares of the business's stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $9.62 per share, with a total value of $192,400.00. Following the purchase, the director owned 43,112 shares of the company's stock, valued at $414,737.44. The trade was a 86.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 28,000 shares of company stock worth $270,820. Insiders own 5.70% of the company's stock.

Institutional Trading of Orion Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Simcoe Capital LLC acquired a new stake in Orion Group in the 4th quarter valued at approximately $4,509,000. CenterBook Partners LP lifted its stake in Orion Group by 33.1% during the 4th quarter. CenterBook Partners LP now owns 720,561 shares of the construction company's stock worth $7,162,000 after acquiring an additional 179,050 shares in the last quarter. Globeflex Capital L P boosted its holdings in Orion Group by 481.0% during the 1st quarter. Globeflex Capital L P now owns 71,310 shares of the construction company's stock valued at $777,000 after acquiring an additional 59,036 shares during the period. GSA Capital Partners LLP increased its stake in Orion Group by 129.9% during the fourth quarter. GSA Capital Partners LLP now owns 106,863 shares of the construction company's stock worth $1,062,000 after purchasing an additional 60,373 shares during the period. Finally, North Star Investment Management Corp. purchased a new position in shares of Orion Group in the first quarter valued at approximately $763,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source