Omega Protein Corp. (OME) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “Omega Protein Corporation, headquartered in Houston, is one of the nation’s leading producers of edible fish oil, which is high in nutritionally desirable Omega-3 fatty acids and is used in a variety of food products. Omega Protein also produces specialty fish meals for use in livestock feeds, and fish solubles which are used as an organic fertilizer and in other applications. (Company Press Release) “
A number of other equities research analysts also recently issued reports on OME. Pivotal Research upped their price objective on Omega Protein Corp. from $25.00 to $30.00 and gave the company a buy rating in a research report on Tuesday, August 2nd. DA Davidson upped their price objective on Omega Protein Corp. from $20.00 to $26.00 and gave the company a neutral rating in a research report on Thursday, August 4th. Finally, Wunderlich downgraded Omega Protein Corp. from a buy rating to a hold rating and upped their price objective for the company from $22.00 to $26.00 in a research report on Friday, August 5th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $25.65.
Shares of Omega Protein Corp. (NYSE:OME) traded down 1.1490% during mid-day trading on Wednesday, hitting $23.2201. The stock had a trading volume of 3,416 shares. The company has a market cap of $517.92 million, a PE ratio of 19.0485 and a beta of 0.62. The stock’s 50-day moving average is $24.45 and its 200 day moving average is $21.10. Omega Protein Corp. has a 12 month low of $14.58 and a 12 month high of $26.00.
Omega Protein Corp. (NYSE:OME) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Omega Protein Corp. had a return on equity of 14.70% and a net margin of 7.03%. The company earned $112.65 million during the quarter, compared to analyst estimates of $99.12 million. During the same period in the prior year, the company earned $0.43 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Omega Protein Corp. will post $2.03 earnings per share for the current fiscal year.
In other Omega Protein Corp. news, Director Gary L. Allee sold 11,200 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $24.34, for a total transaction of $272,608.00. Following the transaction, the director now directly owns 46,101 shares in the company, valued at approximately $1,122,098.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Johannesen sold 17,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $25.70, for a total value of $436,900.00. Following the transaction, the chief financial officer now owns 59,418 shares in the company, valued at $1,527,042.60. The disclosure for this sale can be found here. 7.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OME. BlackRock Advisors LLC increased its position in Omega Protein Corp. by 1.3% in the second quarter. BlackRock Advisors LLC now owns 10,876 shares of the company’s stock valued at $217,000 after buying an additional 136 shares during the last quarter. Origin Asset Management LLP purchased a new position in Omega Protein Corp. during the second quarter valued at approximately $221,000. Menta Capital LLC purchased a new position in Omega Protein Corp. during the first quarter valued at approximately $191,000. State Board of Administration of Florida Retirement System increased its position in Omega Protein Corp. by 6.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 13,700 shares of the company’s stock valued at $274,000 after buying an additional 813 shares during the last quarter. Finally, Princeton Alpha Management LP purchased a new position in Omega Protein Corp. during the second quarter valued at approximately $289,000. Institutional investors own 86.85% of the company’s stock.
Omega Protein Corp. Company Profile
Omega Protein Corporation is a nutritional products company that develops, produces and delivers nutritious products across the world. The Company operates through two segments: animal nutrition and human nutrition. The Company’s animal nutrition segment consists primarily of two subsidiaries: Omega Protein, Inc (Omega Protein) and Omega Shipyard, Inc (Omega Shipyard).
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