Orion Group (NYSE:ORN) Target Price Lowered to $8.00

Orion Group (NYSE:ORN) Target Price Lowered to $8.00

Orion Group (NYSE:ORN) had its price target lowered by Canaccord Genuity from $10.00 to $8.00 in a research report sent to investors on Friday, October 19th. Canaccord Genuity currently has a hold rating on the construction company’s stock.

Several other research firms also recently weighed in on ORN. Zacks Investment Research downgraded Orion Group from a buy rating to a hold rating in a research note on Tuesday, August 7th. B. Riley increased their price target on Orion Group from $10.00 to $11.00 and gave the stock a buy rating in a research note on Tuesday, August 7th. Noble Financial set a $10.00 target price on Orion Group and gave the stock a buy rating in a research note on Friday, August 3rd. Finally, ValuEngine upgraded Orion Group from a hold rating to a buy rating in a research note on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $8.63.

NYSE ORN traded down $0.31 on Friday, reaching $4.54. The company had a trading volume of 280,800 shares, compared to its average volume of 149,485. Orion Group has a 52-week low of $4.48 and a 52-week high of $9.83. The firm has a market capitalization of $140.12 million, a P/E ratio of -32.43 and a beta of 1.47. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.24.

Orion Group (NYSE:ORN) last announced its earnings results on Thursday, November 1st. The construction company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. The firm had revenue of $125.07 million during the quarter, compared to analyst estimates of $140.40 million. Orion Group had a return on equity of 0.38% and a net margin of 1.63%. As a group, sell-side analysts predict that Orion Group will post -0.22 EPS for the current fiscal year.

In related news, Director Austin J. Shanfelter sold 12,064 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $9.28, for a total transaction of $111,953.92. Following the transaction, the director now directly owns 34,686 shares of the company’s stock, valued at approximately $321,886.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Austin J. Shanfelter sold 4,606 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $8.08, for a total value of $37,216.48. Following the transaction, the director now directly owns 33,292 shares in the company, valued at $268,999.36. The disclosure for this sale can be found here. Company insiders own 7.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. A.R.T. Advisors LLC purchased a new position in Orion Group in the 1st quarter worth approximately $148,000. SG Americas Securities LLC purchased a new position in Orion Group in the 2nd quarter worth approximately $150,000. Engineers Gate Manager LP purchased a new position in Orion Group in the 2nd quarter worth approximately $161,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Orion Group by 207.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 32,059 shares of the construction company’s stock valued at $265,000 after buying an additional 21,629 shares during the period. Finally, Alambic Investment Management L.P. purchased a new position in shares of Orion Group during the second quarter valued at approximately $314,000. 88.56% of the stock is currently owned by institutional investors and hedge funds.

Orion Group Company Profile

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.

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