Orion Group (NYSE:ORN) Sets New 1-Year High – Here’s Why

Orion Group Holdings, Inc. (NYSE:ORN) hit a new 52-week high during trading on Thursday . The stock traded as high as $12.69 and last traded at $12.7350, with a volume of 206099 shares. The stock had previously closed at $11.18.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Orion Group in a research report on Thursday. JPMorgan Chase & Co. started coverage on shares of Orion Group in a research note on Thursday. They set an “overweight” rating and a $16.00 price objective for the company. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.75.

Orion Group Stock Performance

The company’s 50-day moving average is $10.36 and its two-hundred day moving average is $9.02. The company has a market capitalization of $487.50 million, a P/E ratio of 53.12, a PEG ratio of 7.23 and a beta of 1.16. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.18.

Orion Group (NYSE:ORN) last released its quarterly earnings results on Wednesday, October 29th. The construction company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $225.10 million during the quarter, compared to analysts’ expectations of $224.47 million. Orion Group had a net margin of 1.13% and a return on equity of 6.88%. Equities analysts anticipate that Orion Group Holdings, Inc. will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Orion Group by 6.7% in the 2nd quarter. Geode Capital Management LLC now owns 859,800 shares of the construction company’s stock worth $7,800,000 after buying an additional 54,345 shares during the last quarter. Ardsley Advisory Partners LP raised its stake in shares of Orion Group by 30.0% during the second quarter. Ardsley Advisory Partners LP now owns 325,000 shares of the construction company’s stock worth $2,948,000 after acquiring an additional 75,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Orion Group by 30.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,516 shares of the construction company’s stock worth $1,456,000 after acquiring an additional 37,764 shares in the last quarter. Bastion Asset Management Inc. purchased a new stake in shares of Orion Group in the 2nd quarter valued at $884,000. Finally, First Wilshire Securities Management Inc. purchased a new stake in shares of Orion Group in the 2nd quarter valued at $4,813,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.