Orix Corp Ads (NYSE:IX) Sees Large Volume Increase - Still a Buy?

Key Points

• Trading volume surged 64% to 538,196 shares, while Orix shares slipped 0.8% to approximately $37.04.
• Analyst sentiment remains cautiously positive: the stock has a “Moderate Buy” consensus, with one Buy and one Hold rating after recent upgrades and downgrades.
• Orix reported quarterly EPS of $1.57 on $7.06 billion in revenue, with an 18.02% net margin and 13.11% return on equity; several institutional investors also increased their positions.

Shares of Orix Corp Ads (NYSE:IX - Get Free Report) saw an uptick in trading volume on Friday. 538,196 shares traded hands during mid-day trading, an increase of 64% from the previous session's volume of 327,493 shares. The stock last traded at $37.0360 and had previously closed at $37.36.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IX shares. Zacks Research cut shares of Orix Corp Ads from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Wall Street Zen cut Orix Corp Ads from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. Finally, Weiss Ratings upgraded shares of Orix Corp Ads from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Orix Corp Ads Trading Down 0.8%

The stock's 50 day simple moving average is $39.52 and its 200 day simple moving average is $37.02. The firm has a market cap of $41.15 billion, a PE ratio of 10.24, a PEG ratio of 0.75 and a beta of 0.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.07 and a current ratio of 2.15.

Orix Corp Ads (NYSE:IX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The real estate investment trust reported $1.57 earnings per share for the quarter. Orix Corp Ads had a net margin of 18.02% and a return on equity of 13.11%. The firm had revenue of $7.06 billion for the quarter. On average, sell-side analysts forecast that Orix Corp Ads will post 5.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orix Corp Ads

Several hedge funds have recently added to or reduced their stakes in IX. Calamos Advisors LLC bought a new position in shares of Orix Corp Ads during the first quarter valued at about $4,899,000. Quantinno Capital Management LP increased its holdings in Orix Corp Ads by 16.3% during the 1st quarter. Quantinno Capital Management LP now owns 924,415 shares of the real estate investment trust's stock valued at $27,723,000 after purchasing an additional 129,739 shares during the period. Renaissance Technologies LLC bought a new position in Orix Corp Ads during the 1st quarter valued at approximately $3,287,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Orix Corp Ads by 75.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 114,400 shares of the real estate investment trust's stock valued at $3,431,000 after purchasing an additional 49,200 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in Orix Corp Ads by 116.2% in the 1st quarter. Royal Bank of Canada now owns 88,450 shares of the real estate investment trust's stock worth $2,652,000 after buying an additional 47,544 shares during the period. Institutional investors own 1.73% of the company's stock.

About Orix Corp Ads

ORIX Corporation is a diversified Japanese financial services company headquartered in Tokyo. Founded in 1964, the company began as a leasing business and has expanded into a broad range of financial, investment and operational services.

Its businesses include corporate and equipment finance, leasing, real estate, concession operations, private equity and investment banking, insurance, banking, asset management, aircraft and ships, and renewable energy. ORIX also provides services related to automobile leasing and fleet management, as well as environmental and energy solutions.

ORIX serves customers in Japan and through an international network spanning North America, Asia, Europe, the Middle East and Australia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.