Orion Group (NYSE:ORN) Hits New 1-Year High – Still a Buy?

Orion Group Holdings, Inc. (NYSE:ORN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $14.76 and last traded at $14.7850, with a volume of 53494 shares traded. The stock had previously closed at $14.13.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ORN shares. DA Davidson raised their target price on shares of Orion Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. B. Riley Financial reissued a “buy” rating on shares of Orion Group in a research report on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Orion Group in a report on Thursday, January 22nd. Roth Mkm assumed coverage on shares of Orion Group in a research report on Tuesday. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Orion Group in a report on Thursday, January 22nd. They set an “overweight” rating and a $16.00 target price for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Orion Group currently has an average rating of “Moderate Buy” and an average price target of $14.88.

Orion Group Price Performance

The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $11.30 and its two-hundred day moving average price is $9.44. The stock has a market cap of $571.77 million, a P/E ratio of 62.31 and a beta of 1.18.

Hedge Funds Weigh In On Orion Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in Orion Group by 64.2% during the first quarter. AQR Capital Management LLC now owns 480,451 shares of the construction company’s stock valued at $2,513,000 after acquiring an additional 187,819 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Orion Group by 55.7% in the 1st quarter. NewEdge Advisors LLC now owns 25,001 shares of the construction company’s stock worth $131,000 after purchasing an additional 8,945 shares during the period. Empowered Funds LLC grew its position in Orion Group by 1.9% during the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock valued at $626,000 after buying an additional 2,220 shares during the period. Strs Ohio bought a new stake in Orion Group during the first quarter valued at approximately $175,000. Finally, CWM LLC increased its holdings in Orion Group by 72.8% during the second quarter. CWM LLC now owns 14,828 shares of the construction company’s stock valued at $134,000 after buying an additional 6,249 shares during the last quarter. 70.25% of the stock is owned by 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.