Orion (NYSE:OEC) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Orion from “Hold” to “Sell,” joining Zacks Research and Weiss Ratings in expressing a bearish view. Orion has a consensus rating of “Strong Sell” and a consensus price target of $5.92.
• Orion’s shares opened at $6.71, with a market capitalization of approximately $378.7 million and a 12-month trading range of $4.34 to $11.20.
• The company reported a quarterly loss of $0.11 per share, missing analysts’ expected earnings of $0.07, though revenue of $459.5 million exceeded the $434.3 million consensus estimate. Institutional investors own 94.33% of the stock.

Orion (NYSE:OEC - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

A number of other analysts have also weighed in on OEC. UBS Group raised their price objective on shares of Orion from $7.00 to $7.50 and gave the company a "neutral" rating in a research note on Friday, May 8th. Zacks Research downgraded shares of Orion from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Orion in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Strong Sell" and a consensus target price of $5.92.

Orion Trading Down 0.7%

Orion stock opened at $6.71 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.62 and a debt-to-equity ratio of 1.75. The business's fifty day simple moving average is $6.89 and its two-hundred day simple moving average is $6.56. Orion has a 12 month low of $4.34 and a 12 month high of $11.20. The company has a market capitalization of $378.66 million, a price-to-earnings ratio of -4.20 and a beta of 1.00.

Orion (NYSE:OEC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.18). The company had revenue of $459.50 million for the quarter, compared to the consensus estimate of $434.31 million. Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. As a group, equities analysts predict that Orion will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orion

A number of hedge funds have recently added to or reduced their stakes in OEC. Royal Bank of Canada increased its position in Orion by 10.7% during the first quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company's stock valued at $3,661,000 after acquiring an additional 27,442 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Orion by 86.2% in the first quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company's stock worth $1,928,000 after buying an additional 69,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Orion by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company's stock worth $438,000 after buying an additional 1,097 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Orion in the first quarter worth approximately $137,000. Finally, Jane Street Group LLC grew its position in Orion by 202.7% during the first quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company's stock valued at $1,566,000 after buying an additional 81,079 shares during the period. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Orion Company Profile

Orion Engineered Carbons SA, operating as Orion NYSE: OEC, is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.

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