Zacks Research Upgrades Orion (NYSE:OEC) to Hold

Orion (NYSE:OEC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on OEC. UBS Group raised their target price on Orion from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a report on Friday, July 17th. Finally, Wall Street Zen lowered Orion from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $5.92.

Orion Price Performance

OEC stock opened at $6.54 on Tuesday. Orion has a 1 year low of $4.34 and a 1 year high of $11.20. The company has a market cap of $368.51 million, a P/E ratio of -4.08 and a beta of 1.00. The firm has a 50-day moving average of $6.86 and a 200 day moving average of $6.57. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.00 and a quick ratio of 0.62.

Orion (NYSE:OEC) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $500.90 million for the quarter, compared to the consensus estimate of $474.43 million. Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. On average, sell-side analysts forecast that Orion will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Orion

A number of institutional investors have recently modified their holdings of OEC. Principal Financial Group Inc. bought a new stake in Orion during the 1st quarter valued at about $1,253,000. JB Capital Partners LP bought a new position in shares of Orion in the fourth quarter worth approximately $1,769,000. AXQ Capital LP lifted its stake in shares of Orion by 101.7% in the fourth quarter. AXQ Capital LP now owns 28,917 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 14,580 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in shares of Orion during the fourth quarter valued at approximately $310,000. Finally, Mraz Amerine & Associates Inc. grew its holdings in shares of Orion by 95.4% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 32,655 shares of the specialty chemicals company’s stock valued at $172,000 after buying an additional 15,940 shares during the last quarter. 94.33% of the stock is owned by hedge funds and other institutional investors.

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.