Orion (NYSE:OEC) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Orion from “sell” to “hold,” while UBS raised its price target to $8.00 and Zacks Research also moved the stock to “hold.” Despite these changes, analysts’ average rating remains “Strong Sell,” with a consensus target price of $6.08.
• Orion shares were trading down 4.8% at $7.24, within a 52-week range of $4.34 to $11.20. The company reported quarterly EPS of $0.14, below the $0.16 consensus, although revenue of $500.9 million exceeded expectations.
• Institutional investors and hedge funds own 94.33% of Orion’s stock, with several funds significantly increasing their positions during the fourth quarter.

Orion (NYSE:OEC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday.

A number of other research analysts have also commented on OEC. UBS Group increased their price objective on Orion from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Friday. Weiss Ratings restated a "sell (d)" rating on shares of Orion in a research report on Friday, July 17th. Finally, Zacks Research raised Orion from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Strong Sell" and a consensus target price of $6.08.

Orion Trading Down 4.8%

OEC opened at $7.24 on Friday. Orion has a 1-year low of $4.34 and a 1-year high of $11.20. The stock has a market capitalization of $408.92 million, a PE ratio of -4.18 and a beta of 1.00. The company has a current ratio of 1.03, a quick ratio of 0.62 and a debt-to-equity ratio of 1.72. The firm has a 50-day moving average price of $6.84 and a two-hundred day moving average price of $6.59.

Orion (NYSE:OEC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 EPS 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, equities analysts anticipate that Orion will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion

Several hedge funds have recently added to or reduced their stakes in OEC. Quarry LP grew its position in shares of Orion by 430.9% during the 4th quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 4,757 shares during the period. Performa Ltd US LLC raised its position in shares of Orion by 690.0% in the 4th quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company's stock valued at $42,000 after acquiring an additional 6,900 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Orion in the 4th quarter valued at approximately $53,000. Blue Trust Inc. bought a new position in Orion during the 1st quarter worth approximately $55,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Orion by 277.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,147 shares of the specialty chemicals company's stock worth $59,000 after acquiring an additional 8,194 shares during the last quarter. Institutional investors and hedge funds 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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