Orix Corp Ads (NYSE:IX) Reaches New 1-Year High - Here's Why

Key Points

• Orix Corp Ads' stock has reached a new 52-week high of $25.64, reflecting a positive trading day with a volume of 994 shares.
• Analyst ratings for Orix were upgraded from a "hold" to a "strong-buy" by Wall Street Zen on August 9th, indicating increased confidence in the stock's performance.
• The company reported $5.21 billion in revenue for the last quarter, surpassing analysts' expectations of $4.96 billion, alongside a notable earnings per share of $0.65.

Orix Corp Ads (NYSE:IX - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $25.64 and last traded at $25.58, with a volume of 994 shares changing hands. The stock had previously closed at $25.40.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Orix Corp Ads from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th.

Orix Corp Ads Trading Down 0.1%

The company has a quick ratio of 1.72, a current ratio of 1.76 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $29.64 billion, a PE ratio of 11.90, a PEG ratio of 0.97 and a beta of 0.92. The stock's fifty day simple moving average is $22.85 and its 200 day simple moving average is $21.32.

Orix Corp Ads (NYSE:IX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.11. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $4.96 billion. Orix Corp Ads had a return on equity of 9.01% and a net margin of 12.70%. On average, sell-side analysts predict that Orix Corp Ads will post 11.31 earnings per share for the current year.

Hedge Funds Weigh In On Orix Corp Ads

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parr Mcknight Wealth Management Group LLC grew its position in Orix Corp Ads by 1.0% during the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 67,964 shares of the real estate investment trust's stock worth $1,531,000 after purchasing an additional 677 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in Orix Corp Ads in the 2nd quarter worth about $246,000. Corient Private Wealth LLC raised its position in shares of Orix Corp Ads by 50.9% in the 2nd quarter. Corient Private Wealth LLC now owns 31,566 shares of the real estate investment trust's stock worth $711,000 after buying an additional 10,642 shares during the period. Curi Capital LLC increased its position in Orix Corp Ads by 17.0% during the 2nd quarter. Curi Capital LLC now owns 61,772 shares of the real estate investment trust's stock worth $1,391,000 after purchasing an additional 8,969 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Orix Corp Ads by 4.4% in the 2nd quarter. Bank of America Corp DE now owns 2,353,948 shares of the real estate investment trust's stock valued at $53,011,000 after purchasing an additional 99,516 shares in the last quarter. Hedge funds and other institutional investors own 1.73% of the company's stock.

About Orix Corp Ads

ORIX Corporation provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East. The company's Corporate Financial Services and Maintenance Leasing segment is involved in the finance and fee; leasing and rental of automobiles, electronic measuring instruments, and ICT-related equipment businesses; and provision of life insurance and environment and energy-related products and services.