Orion (NYSE:OEC) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Orion (NYSE:OEC) from a "strong sell" to a "hold", but analyst sentiment remains weak — two Holds vs. three Sells, an average rating of "Strong Sell" and a consensus target of $5.75.
• Orion reported Q results that missed EPS (−$0.34 vs. −$0.08 expected) while revenue beat at $411.7 million; shares opened at $7.31, with a market cap of about $411 million and a 12‑month range of $4.34–$12.84.

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 on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on OEC. Weiss Ratings restated a "sell (d)" rating on shares of Orion in a report on Thursday, January 22nd. Mizuho raised their price objective on shares of Orion from $4.50 to $5.25 and gave the stock an "underperform" rating in a report on Wednesday, February 18th. UBS Group lifted their price target on shares of Orion from $6.50 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Finally, Wall Street Zen upgraded shares of Orion from a "sell" rating to a "hold" rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Strong Sell" and a consensus target price of $5.75.

Orion Trading Up 3.6%

Shares of NYSE:OEC opened at $7.31 on Monday. Orion has a 12 month low of $4.34 and a 12 month high of $12.84. The company has a quick ratio of 0.59, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. The company's fifty day simple moving average is $5.97 and its 200 day simple moving average is $5.75. The firm has a market cap of $411.16 million, a price-to-earnings ratio of -5.80 and a beta of 0.91.

Orion (NYSE:OEC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The specialty chemicals company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.26). Orion had a positive return on equity of 6.52% and a negative net margin of 3.88%.The company had revenue of $411.70 million for the quarter, compared to analyst estimates of $365.79 million. As a group, research analysts forecast that Orion will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

A number of institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in Orion during the first quarter worth $55,000. Alpine Global Management LLC bought a new position in shares of Orion in the 4th quarter valued at about $91,000. Aristides Capital LLC bought a new position in shares of Orion in the 4th quarter valued at about $202,000. Invesco Ltd. grew its position in shares of Orion by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,807,965 shares of the specialty chemicals company's stock valued at $9,546,000 after acquiring an additional 7,898 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Orion by 31.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 72,571 shares of the specialty chemicals company's stock valued at $383,000 after acquiring an additional 17,166 shares during the period. 94.33% of the stock is currently owned by institutional investors and hedge funds.

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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