B. Riley Reaffirms “Buy” Rating for Orion Group (ORN)
B. Riley reissued their buy rating on shares of Orion Group (NYSE:ORN) in a research report released on Monday. The firm currently has a $10.00 price target on the construction company’s stock. B. Riley also issued estimates for Orion Group’s Q4 2017 earnings at $0.09 EPS, FY2017 earnings at ($0.24) EPS and FY2018 earnings at $0.22 EPS.
A number of other research analysts also recently weighed in on ORN. FBR & Co lowered their price objective on shares of Orion Group from $12.00 to $10.00 and set a buy rating on the stock in a research report on Friday, August 18th. Canaccord Genuity restated a hold rating and set a $7.00 price objective on shares of Orion Group in a research report on Thursday, October 5th. Zacks Investment Research upgraded shares of Orion Group from a strong sell rating to a hold rating in a research report on Tuesday, October 24th. Finally, ValuEngine downgraded shares of Orion Group from a hold rating to a sell rating in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $9.00.
Orion Group (NYSE:ORN) opened at $7.45 on Monday. Orion Group has a 52-week low of $5.17 and a 52-week high of $11.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.49 and a quick ratio of 1.44.
Orion Group (NYSE:ORN) last issued its quarterly earnings data on Wednesday, November 8th. The construction company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.25). The company had revenue of $140.20 million for the quarter, compared to the consensus estimate of $166.08 million. Orion Group had a negative net margin of 2.76% and a negative return on equity of 2.96%. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. analysts expect that Orion Group will post -0.13 earnings per share for the current year.
In other Orion Group news, Director Austin J. Shanfelter sold 9,721 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $7.50, for a total transaction of $72,907.50. Following the completion of the sale, the director now directly owns 31,430 shares of the company’s stock, valued at $235,725. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark R. Stauffer sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $7.56, for a total transaction of $151,200.00. Following the sale, the insider now directly owns 362,631 shares of the company’s stock, valued at $2,741,490.36. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ORN. Foundry Partners LLC increased its stake in shares of Orion Group by 56.5% in the third quarter. Foundry Partners LLC now owns 790,075 shares of the construction company’s stock worth $5,183,000 after purchasing an additional 285,165 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Orion Group by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,808,756 shares of the construction company’s stock worth $13,511,000 after purchasing an additional 240,368 shares in the last quarter. Argent Capital Management LLC purchased a new stake in shares of Orion Group in the second quarter worth $1,487,000. Vanguard Group Inc. increased its stake in shares of Orion Group by 14.3% in the first quarter. Vanguard Group Inc. now owns 1,436,313 shares of the construction company’s stock worth $10,730,000 after purchasing an additional 179,950 shares in the last quarter. Finally, AJO LP purchased a new stake in shares of Orion Group in the second quarter worth $1,109,000. 85.64% of the stock is owned by hedge funds and other institutional investors.
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About Orion Group
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in 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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