Orion (NYSE:OEC) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Orion from “strong sell” to “hold,” but the broader analyst consensus remains “strong sell,” with two hold ratings and three sell ratings and a consensus price target of $5.92.
• Orion’s stock opened at $6.54, with a market capitalization of approximately $368.5 million and a 52-week range of $4.34 to $11.20. The company recently reported quarterly EPS of $0.14, below estimates of $0.16, while revenue of $500.9 million exceeded expectations.
• Institutional investors own 94.33% of Orion, with several funds—including AQR Capital Management, Verition Fund Management and CastleKnight Management—substantially increasing their holdings.

Orion (NYSE:OEC - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on OEC. Weiss Ratings reissued a "sell (d)" rating on shares of Orion in a research report on Friday, July 17th. UBS Group raised their price objective on Orion from $7.00 to $7.50 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Orion from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Sell" and a consensus price target of $5.92.

Orion Price Performance

NYSE:OEC opened at $6.54 on Tuesday. The stock has a market cap of $368.51 million, a P/E ratio of -4.08 and a beta of 1.00. Orion has a one year low of $4.34 and a one year high of $11.20. The company has a fifty day moving average price of $6.86 and a 200 day moving average price of $6.57. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.00 and a quick ratio of 0.62.

Orion (NYSE:OEC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Orion had a positive return on equity of 2.23% and a negative net margin of 4.98%.The company had revenue of $500.90 million during the quarter, compared to analyst estimates of $474.43 million. Analysts anticipate that Orion will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OEC. AQR Capital Management LLC raised its holdings in shares of Orion by 361.3% in the fourth quarter. AQR Capital Management LLC now owns 874,279 shares of the specialty chemicals company's stock valued at $4,616,000 after buying an additional 684,749 shares during the last quarter. Verition Fund Management LLC grew its holdings in Orion by 190.0% during the 3rd quarter. Verition Fund Management LLC now owns 582,141 shares of the specialty chemicals company's stock worth $4,413,000 after acquiring an additional 381,388 shares during the last quarter. CastleKnight Management LP grew its holdings in Orion by 376.2% during the 4th quarter. CastleKnight Management LP now owns 471,941 shares of the specialty chemicals company's stock worth $2,492,000 after acquiring an additional 372,841 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Orion during the 4th quarter worth about $1,910,000. Finally, JB Capital Partners LP acquired a new stake in Orion in the 4th quarter valued at about $1,769,000. Institutional investors own 94.33% of the company's stock.

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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