Orion Group (NYSE:ORN) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Orion Group (NYSE:ORN) had its price objective lowered by JPMorgan Chase & Co. from $16.00 to $14.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the stock. Zacks Research downgraded shares of Orion Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Roth Capital set a $15.00 price objective on shares of Orion Group in a research report on Thursday, July 30th. Oppenheimer cut their target price on shares of Orion Group from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings lowered Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Finally, Wall Street Zen lowered Orion Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 1st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.75.

Orion Group Trading Up 2.5%

Shares of ORN opened at $8.81 on Tuesday. The business’s 50-day moving average price is $9.21 and its 200 day moving average price is $11.92. The stock has a market capitalization of $356.84 million, a P/E ratio of 97.93 and a beta of 1.43. Orion Group has a 1-year low of $8.15 and a 1-year high of $17.40. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.62.

Orion Group (NYSE:ORN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The firm had revenue of $221.88 million for the quarter, compared to analysts’ expectations of $225.72 million. Orion Group had a net margin of 0.40% and a return on equity of 3.07%. Analysts expect that Orion Group will post 0.12 earnings per share for the current year.

Insider Transactions at Orion Group

In related news, EVP Edward Earle purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $9.81 per share, for a total transaction of $49,050.00. Following the completion of the acquisition, the executive vice president owned 150,042 shares in the company, valued at $1,471,912.02. This trade represents a 3.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Sullivan purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $9.79 per share, with a total value of $29,370.00. Following the completion of the acquisition, the director owned 277,904 shares of the company’s stock, valued at $2,720,680.16. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 28,000 shares of company stock valued at $270,820 over the last three months. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orion Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. De Lisle Partners LLP acquired a new stake in shares of Orion Group during the 2nd quarter valued at $7,067,000. Wasatch Advisors LP increased its stake in shares of Orion Group by 21.6% in the second quarter. Wasatch Advisors LP now owns 2,014,110 shares of the company’s stock worth $33,877,000 after acquiring an additional 357,276 shares during the last quarter. BlackRock Inc. increased its stake in shares of Orion Group by 9.9% in the second quarter. BlackRock Inc. now owns 3,008,011 shares of the company’s stock worth $50,595,000 after acquiring an additional 270,967 shares during the last quarter. Formula Growth Ltd. acquired a new position in shares of Orion Group in the second quarter worth $4,317,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Orion Group in the second quarter worth $3,488,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Orion Group Company Profile

Orion Group Holdings, Inc is a construction company that operates through its marine and concrete businesses. Its marine operations provide construction and rehabilitation services for ports, terminals, bridges, waterways, offshore facilities and other marine infrastructure. The company’s capabilities include dredging, marine transportation, heavy civil construction, steel erection, pile driving and specialty marine repair.

Through its concrete operations, Orion performs commercial, industrial and infrastructure concrete work.