Orion Group (NYSE:ORN) Hits New 52-Week High – Here’s What Happened

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $16.21 and last traded at $15.5760, with a volume of 552056 shares traded. The stock had previously closed at $15.89.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Orion Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Orion Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. B. Riley Financial increased their price objective on shares of Orion Group from $15.50 to $17.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $17.00.

Orion Group Trading Down 2.0%

The stock has a 50 day simple moving average of $13.83 and a 200-day simple moving average of $12.38. The firm has a market capitalization of $630.52 million, a P/E ratio of 74.17 and a beta of 1.37. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43.

Orion Group (NYSE:ORN) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.05 EPS for the quarter. The firm had revenue of $216.30 million during the quarter, compared to analyst estimates of $198.12 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. On average, equities research analysts forecast that Orion Group Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Orion Group news, Director Margaret M. Foran sold 20,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.62, for a total value of $292,400.00. Following the transaction, the director directly owned 137,541 shares in the company, valued at approximately $2,010,849.42. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 40,695 shares of company stock valued at $606,512 in the last 90 days. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orion Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in Orion Group in the 3rd quarter worth $33,000. Comerica Bank increased its position in Orion Group by 219.7% in the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after buying an additional 3,562 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Orion Group in the first quarter worth about $52,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Orion Group in the third quarter worth about $86,000. Finally, Millennium Management LLC purchased a new position in shares of Orion Group during the 3rd quarter valued at about $91,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Orion Group Company Profile

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.