Orion Marine Group Inc. (ORN) Shares Up 2%
Orion Marine Group Inc. (NYSE:ORN) shares shot up 2% during mid-day trading on Tuesday . The company traded as high as $6.58 and last traded at $6.55, with a volume of 63,711 shares trading hands. The stock had previously closed at $6.42.
A number of brokerages have recently issued reports on ORN. Canaccord Genuity set a $5.50 target price on Orion Marine Group and gave the company a “hold” rating in a research report on Saturday, August 6th. Imperial Capital lowered Orion Marine Group from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $7.00 to $6.00 in a research report on Thursday, May 12th. Zacks Investment Research upgraded Orion Marine Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. FBR & Co reiterated a “hold” rating on shares of Orion Marine Group in a research report on Tuesday, May 10th. Finally, DA Davidson increased their target price on Orion Marine Group from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Orion Marine Group presently has a consensus rating of “Hold” and a consensus price target of $6.38.
The stock’s market cap is $181.30 million. The firm’s 50-day moving average price is $5.68 and its 200 day moving average price is $5.00.
Orion Marine Group (NYSE:ORN) last released its earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.04. The firm earned $140.30 million during the quarter, compared to analyst estimates of $147.21 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 63.0% on a year-over-year basis. Equities research analysts forecast that Orion Marine Group Inc. will post $0.28 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Orion Marine Group stock. Dimensional Fund Advisors LP increased its position in shares of Orion Marine Group Inc. (NYSE:ORN) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,193,515 shares of the company’s stock after buying an additional 9,758 shares during the period. Dimensional Fund Advisors LP owned about 4.37% of Orion Marine Group worth $4,977,000 as of its most recent SEC filing.
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.
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