Orion (NYSE:OEC) Stock Price Target Cut by UBS Group

Orion (NYSE:OEC) had its target price reduced by investment analysts at UBS Group from $8.00 to $6.50 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price objective would indicate a potential upside of 10.83% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Orion from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Zacks Research upgraded shares of Orion from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research note on Friday, July 17th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $5.58.

Orion Trading Up 1.3%

Shares of NYSE OEC traded up $0.07 during trading on Monday, reaching $5.87. The stock had a trading volume of 374,947 shares, compared to its average volume of 598,608. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 1.03. The company has a market cap of $331.49 million, a P/E ratio of -3.39 and a beta of 1.05. Orion has a fifty-two week low of $4.34 and a fifty-two week high of $8.64. The business’s 50-day moving average price is $6.22 and its 200-day moving average price is $6.59.

Orion (NYSE:OEC) last posted its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Orion had a negative return on equity of 0.31% and a negative net margin of 5.28%.The firm had revenue of $500.90 million for the quarter, compared to analyst estimates of $474.43 million. On average, equities research analysts predict that Orion will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC acquired a new stake in Orion in the second quarter valued at approximately $31,638,000. BlackRock Inc. acquired a new position in Orion during the 2nd quarter worth approximately $27,898,000. JB Capital Partners LP acquired a new position in Orion during the 4th quarter worth approximately $1,769,000. Bank of America Corp DE purchased a new stake in shares of Orion in the 2nd quarter valued at approximately $2,080,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Orion in the 2nd quarter valued at approximately $1,388,000. 94.33% of the stock is owned by institutional investors and hedge funds.

About Orion

Orion SA (NYSE: OEC) is a specialty chemicals company that develops, manufactures and sells carbon-based products. Its portfolio includes specialty and high-performance carbon black, conductive additives and other engineered materials used in applications such as coatings, plastics, inks, adhesives, batteries, tires and rubber products.

The company serves customers across a range of industries, including automotive, transportation, construction, electronics, energy storage and consumer products.