Orion's (OEC) "Underperform" Rating Reaffirmed at Mizuho

Key Points

• Mizuho has reaffirmed its "underperform" rating for Orion (OEC) and set a price target of $9.00, suggesting a potential downside of 12.85% from the previous close.
• Orion's earnings report showed a miss with $0.32 earnings per share against a consensus estimate of $0.36, alongside a revenue decline of 2.2% year-over-year.
• Institutional investors own 94.33% of Orion's stock, highlighting significant backing from hedge funds and investment firms.

Orion (NYSE:OEC - Get Free Report)'s stock had its "underperform" rating reiterated by research analysts at Mizuho in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $9.00 target price on the specialty chemicals company's stock. Mizuho's price objective suggests a potential downside of 12.85% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Orion to a "strong sell" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $9.00 price objective (down previously from $10.00) on shares of Orion in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Orion presently has a consensus rating of "Reduce" and a consensus target price of $11.67.

Orion Trading Up 1.6%

Shares of Orion stock opened at $10.33 on Friday. The firm has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $11.41. The company has a market cap of $579.86 million, a P/E ratio of 38.25 and a beta of 1.05. Orion has a fifty-two week low of $9.03 and a fifty-two week high of $19.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.64 and a current ratio of 1.10.

Orion (NYSE:OEC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The specialty chemicals company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.04). The firm had revenue of $466.40 million during the quarter, compared to analyst estimates of $475.77 million. Orion had a return on equity of 16.67% and a net margin of 0.82%.The company's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. As a group, equities analysts predict that Orion will post 1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Orion by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company's stock worth $438,000 after purchasing an additional 1,097 shares during the last quarter. Inspire Investing LLC raised its position in shares of Orion by 4.9% during the 1st quarter. Inspire Investing LLC now owns 26,584 shares of the specialty chemicals company's stock worth $344,000 after purchasing an additional 1,233 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Orion by 18.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,687 shares of the specialty chemicals company's stock worth $144,000 after purchasing an additional 2,112 shares during the last quarter. Rhumbline Advisers raised its position in shares of Orion by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 85,855 shares of the specialty chemicals company's stock worth $901,000 after purchasing an additional 2,344 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Orion by 7.4% during the 2nd quarter. Prudential Financial Inc. now owns 39,275 shares of the specialty chemicals company's stock valued at $412,000 after acquiring an additional 2,695 shares in the last quarter. Institutional investors and hedge funds own 94.33% of the company's stock.

About Orion

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.

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