UBS Group Issues Positive Forecast for Orion (NYSE:OEC) Stock Price

Key Points

• UBS raised its price target on Orion from $6.50 to $7.00 and maintained a "neutral" rating, implying about a 5.1% upside from the current price.
• Overall analyst sentiment remains bearish — one Hold and four Sell ratings, with an average rating of "Strong Sell" and an average price target of $5.75.
• Orion missed quarterly EPS estimates (reported ($0.34) vs. consensus ($0.08)) despite a revenue beat, and the stock was trading around $6.66 with a market cap near $375 million.

Orion (NYSE:OEC - Get Free Report) had its price target hoisted by equities researchers at UBS Group from $6.50 to $7.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's target price suggests a potential upside of 5.09% from the company's current price.

OEC has been the topic of several other reports. Zacks Research cut shares of Orion from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of Orion in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Orion from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, Mizuho increased their target price on shares of Orion from $4.50 to $5.25 and gave the stock an "underperform" rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Orion currently has an average rating of "Strong Sell" and an average price target of $5.75.

Orion Stock Performance

Shares of OEC stock traded up $0.28 during trading on Thursday, reaching $6.66. 497,771 shares of the company's stock traded hands, compared to its average volume of 745,229. The company has a market capitalization of $374.81 million, a P/E ratio of -5.29 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.75. The firm's 50-day moving average is $5.94 and its 200 day moving average is $5.81. Orion has a 1 year low of $4.34 and a 1 year high of $12.84.

Orion (NYSE:OEC - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $411.70 million for the quarter, compared to analysts' expectations of $365.79 million. Orion had a negative net margin of 3.88% and a positive return on equity of 6.52%. Equities research analysts expect that Orion will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Orion

A number of institutional investors have recently made changes to their positions in OEC. Royal Bank of Canada increased its holdings in shares of Orion by 10.7% in the 1st quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company's stock worth $3,661,000 after buying an additional 27,442 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Orion by 86.2% in the 1st quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company's stock worth $1,928,000 after buying an additional 69,054 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Orion by 3.3% in 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 buying an additional 1,097 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Orion in the 1st quarter worth $137,000. Finally, Jane Street Group LLC increased its holdings in shares of Orion by 202.7% in the 1st quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company's stock worth $1,566,000 after buying an additional 81,079 shares during the last quarter. Institutional investors own 94.33% of the company's stock.

About Orion

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.

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.