Orion (NYSE:OEC) Stock Rating Lowered by Zacks Research

Orion (NYSE:OEC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. UBS Group upped their price objective on shares of Orion from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Orion from a “sell” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Orion has an average rating of “Strong Sell” and an average target price of $5.92.

Orion Stock Up 2.9%

Shares of NYSE OEC opened at $5.63 on Monday. The firm has a 50-day moving average price of $7.14 and a 200 day moving average price of $6.42. The stock has a market capitalization of $317.31 million, a price-to-earnings ratio of -3.52 and a beta of 1.00. The company has a quick ratio of 0.62, a current ratio of 1.00 and a debt-to-equity ratio of 1.75. Orion has a 52 week low of $4.34 and a 52 week high of $11.62.

Orion (NYSE:OEC) last issued its quarterly earnings data on Wednesday, May 6th. The specialty chemicals company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). The business had revenue of $459.50 million during the quarter, compared to analyst estimates of $434.31 million. Orion had a negative net margin of 4.98% and a positive return on equity of 2.23%. Equities research analysts anticipate that Orion will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

Hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its position in Orion by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 4,599,907 shares of the specialty chemicals company’s stock worth $29,899,000 after purchasing an additional 17,311 shares during the period. Divisar Capital Management LLC lifted its stake in shares of Orion by 10.9% during the third quarter. Divisar Capital Management LLC now owns 2,450,414 shares of the specialty chemicals company’s stock worth $18,574,000 after purchasing an additional 241,160 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Orion by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,350,415 shares of the specialty chemicals company’s stock worth $17,816,000 after buying an additional 7,045 shares during the period. American Century Companies Inc. boosted its position in shares of Orion by 6.9% in the third quarter. American Century Companies Inc. now owns 2,138,131 shares of the specialty chemicals company’s stock worth $16,207,000 after buying an additional 137,890 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Orion by 12.7% in the third quarter. Vanguard Group Inc. now owns 1,894,290 shares of the specialty chemicals company’s stock valued at $14,359,000 after buying an additional 213,339 shares in the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

About Orion

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.