Zacks: ORIX Co. (IX) Receives Consensus Rating of “Strong Buy” from Brokerages
Shares of ORIX Co. (NYSE:IX) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a twelve-month consensus price objective of $115.30 for the company, according to Zacks. Zacks has also assigned ORIX an industry rank of 118 out of 255 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of ORIX from a “sell” rating to a “hold” rating in a report on Thursday, July 12th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IX. PNC Financial Services Group Inc. boosted its stake in ORIX by 2,618.4% in the second quarter. PNC Financial Services Group Inc. now owns 96,804 shares of the real estate investment trust’s stock valued at $7,649,000 after acquiring an additional 93,243 shares during the last quarter. Bank of America Corp DE boosted its stake in ORIX by 14.2% in the second quarter. Bank of America Corp DE now owns 459,273 shares of the real estate investment trust’s stock valued at $36,286,000 after acquiring an additional 57,084 shares during the last quarter. Aperio Group LLC boosted its stake in ORIX by 6.3% in the second quarter. Aperio Group LLC now owns 283,829 shares of the real estate investment trust’s stock valued at $22,425,000 after acquiring an additional 16,703 shares during the last quarter. Royal Bank of Canada boosted its stake in ORIX by 169.5% in the first quarter. Royal Bank of Canada now owns 26,465 shares of the real estate investment trust’s stock valued at $2,378,000 after acquiring an additional 16,645 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new position in ORIX in the second quarter valued at about $1,146,000. Hedge funds and other institutional investors own 2.02% of the company’s stock.
Shares of NYSE IX traded down $0.80 during mid-day trading on Wednesday, reaching $78.80. 27,222 shares of the company’s stock traded hands, compared to its average volume of 27,631. The stock has a market capitalization of $20.52 billion, a P/E ratio of 74.11, a P/E/G ratio of 1.00 and a beta of 1.48. ORIX has a 1-year low of $77.59 and a 1-year high of $100.03. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.50 and a quick ratio of 1.47.
ORIX Corporation provides diversified financial services primarily in Japan and the Americas. It operates through six segments: Corporate Financial Services, Maintenance Leasing, Real Estate, Investment and Operation, Retail, and Overseas Business. The Corporate Financial Services segment engages in lending, leasing, and fee businesses.
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