Orix Corp Ads (NYSE:IX) Shares Cross Below 200 Day Moving Average – Here’s Why

Orix Corp Ads (NYSE:IX)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $36.16 and traded as low as $35.68. Orix Corp Ads shares last traded at $35.7590, with a volume of 591,795 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings raised Orix Corp Ads from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Zacks Research lowered Orix Corp Ads from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Orix Corp Ads Stock Down 3.5%

The company has a debt-to-equity ratio of 1.20, a current ratio of 2.15 and a quick ratio of 2.07. The firm has a 50 day simple moving average of $38.02 and a 200-day simple moving average of $36.16. The stock has a market capitalization of $39.70 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92.

Orix Corp Ads (NYSE:IX) last issued its quarterly earnings data on Tuesday, June 30th. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter. Orix Corp Ads had a return on equity of 13.11% and a net margin of 18.02%. The company had revenue of $7.06 billion during the quarter. On average, sell-side analysts forecast that Orix Corp Ads will post 5.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Orix Corp Ads

Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in Orix Corp Ads by 1.4% during the 3rd quarter. Fifth Third Bancorp now owns 34,913 shares of the real estate investment trust’s stock valued at $1,317,000 after purchasing an additional 497 shares during the last quarter. Ritholtz Wealth Management grew its stake in Orix Corp Ads by 5.1% during the third quarter. Ritholtz Wealth Management now owns 135,350 shares of the real estate investment trust’s stock worth $5,104,000 after buying an additional 6,613 shares during the last quarter. First Command Advisory Services Inc. grew its stake in Orix Corp Ads by 477.8% during the third quarter. First Command Advisory Services Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 884 shares during the last quarter. Lido Advisors LLC increased its holdings in shares of Orix Corp Ads by 9.1% during the third quarter. Lido Advisors LLC now owns 27,879 shares of the real estate investment trust’s stock worth $1,051,000 after buying an additional 2,316 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Orix Corp Ads by 3.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 33,256 shares of the real estate investment trust’s stock worth $1,242,000 after buying an additional 1,041 shares in the last quarter. Institutional investors and hedge funds own 1.73% of the company’s stock.

Orix Corp Ads Company Profile

ORIX Corporation is a diversified financial services company headquartered in Tokyo, Japan. Founded in 1964 as a leasing business, the company has expanded into a broad range of services for corporate and retail customers, including equipment and automobile leasing, loans, investment products, insurance, and banking-related services.

ORIX also operates businesses in real estate, private equity and concession investments, aircraft leasing, ships and transportation equipment, and environmental and energy services.