Orion Group (NYSE:ORN) Hits New 12-Month High – Should You Buy?

Orion Group Holdings, Inc. (NYSE:ORN)’s share price reached a new 52-week high on Monday . The stock traded as high as $16.59 and last traded at $16.5590, with a volume of 104208 shares trading hands. The stock had previously closed at $16.41.

Wall Street Analysts Forecast Growth

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

Orion Group Trading Up 2.4%

The company has a 50-day moving average price of $14.17 and a 200 day moving average price of $12.54. The stock has a market capitalization of $680.14 million, a P/E ratio of 79.98 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 posted its earnings results on Wednesday, April 29th. The construction company reported $0.05 earnings per share (EPS) for the quarter. Orion Group had a return on equity of 4.44% and a net margin of 0.98%.The company had revenue of $216.30 million for the quarter, compared to analyst estimates of $198.12 million. On average, research analysts forecast that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Orion Group news, Director Margaret M. Foran sold 10,695 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.70, for a total value of $167,911.50. Following the completion of the sale, the director directly owned 116,846 shares in the company, valued at $1,834,482.20. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 40,695 shares of company stock worth $606,512 over the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Orion Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in Orion Group by 64.2% during the 1st quarter. AQR Capital Management LLC now owns 480,451 shares of the construction company’s stock worth $2,513,000 after buying an additional 187,819 shares during the last quarter. NewEdge Advisors LLC raised its stake in Orion Group by 55.7% in the first quarter. NewEdge Advisors LLC now owns 25,001 shares of the construction company’s stock valued at $131,000 after buying an additional 8,945 shares during the last quarter. Empowered Funds LLC boosted its holdings in Orion Group by 1.9% in the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock worth $626,000 after acquiring an additional 2,220 shares in the last quarter. Strs Ohio purchased a new stake in shares of Orion Group during the first quarter worth about $175,000. Finally, Creative Planning purchased a new stake in shares of Orion Group during the second quarter worth about $202,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.