Orion (NYSE:OEC) Price Target Raised to $8.00

Key Points

• UBS Group raised Orion’s price target from $7.50 to $8.00 while maintaining a “neutral” rating, implying 10.57% potential upside from the stock’s price at the time.
• Analyst sentiment remains broadly negative: Orion has an average “Strong Sell” rating and an average price target of $6.08, despite Zacks Research upgrading the stock to “hold.”
• Orion shares fell 4.8% to $7.24 in Friday trading. The company recently reported quarterly EPS of $0.14, below the $0.16 consensus estimate, although revenue of $500.9 million exceeded expectations.

Orion (NYSE:OEC - Get Free Report) had its target price upped by analysts at UBS Group from $7.50 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price target indicates a potential upside of 10.57% from the stock's current price.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of Orion from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Wall Street Zen downgraded shares of Orion from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Orion in a report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Orion presently has an average rating of "Strong Sell" and an average target price of $6.08.

Orion Stock Down 4.8%

Orion stock traded down $0.36 during mid-day trading on Friday, hitting $7.24. The company had a trading volume of 560,227 shares, compared to its average volume of 647,190. Orion has a 12 month low of $4.34 and a 12 month high of $11.20. The company has a market capitalization of $407.98 million, a PE ratio of -4.18 and a beta of 1.00. The stock's 50 day moving average price is $6.84 and its two-hundred day moving average price is $6.59. The company has a current ratio of 1.00, a quick ratio of 0.62 and a debt-to-equity ratio of 1.75.

Orion (NYSE:OEC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $500.90 million for the quarter, compared to the consensus estimate of $474.43 million. Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. As a group, sell-side analysts anticipate that Orion will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Orion by 3.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company's stock valued at $438,000 after acquiring an additional 1,097 shares during the last quarter. MetLife Investment Management LLC increased its stake in Orion by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 30,641 shares of the specialty chemicals company's stock worth $162,000 after acquiring an additional 1,680 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Orion by 16.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,340 shares of the specialty chemicals company's stock worth $65,000 after acquiring an additional 1,742 shares during the last quarter. Versant Capital Management Inc raised its position in Orion by 26.4% during the second quarter. Versant Capital Management Inc now owns 9,925 shares of the specialty chemicals company's stock valued at $66,000 after purchasing an additional 2,072 shares during the period. Finally, Rhumbline Advisers raised its position in Orion by 2.8% during the second quarter. Rhumbline Advisers now owns 85,855 shares of the specialty chemicals company's stock valued at $901,000 after purchasing an additional 2,344 shares during the period. Institutional investors own 94.33% of the company's stock.

About Orion

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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