Orix Corp Ads (NYSE:IX) Shares Gap Up – Still a Buy?

Shares of Orix Corp Ads (NYSE:IX) gapped up prior to trading on Wednesday . The stock had previously closed at $38.30, but opened at $40.37. Orix Corp Ads shares last traded at $40.5410, with a volume of 21,003 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IX shares. Weiss Ratings cut Orix Corp Ads from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Zacks Research upgraded Orix Corp Ads from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Wall Street Zen lowered Orix Corp Ads from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy”.

Orix Corp Ads Price Performance

The stock’s 50-day moving average price is $38.93 and its 200 day moving average price is $34.32. The company has a quick ratio of 1.73, a current ratio of 1.77 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $45.00 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.82 and a beta of 0.89.

Orix Corp Ads (NYSE:IX) last posted its quarterly earnings results on Tuesday, March 31st. The real estate investment trust reported $1.64 earnings per share for the quarter. The firm had revenue of $6.03 billion for the quarter. Orix Corp Ads had a net margin of 13.55% and a return on equity of 9.93%. Equities research analysts expect that Orix Corp Ads will post 4.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orix Corp Ads

A number of large investors have recently made changes to their positions in the stock. Morgan Stanley lifted its position in Orix Corp Ads by 1.5% during the fourth quarter. Morgan Stanley now owns 5,117,942 shares of the real estate investment trust’s stock worth $149,546,000 after buying an additional 74,473 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Orix Corp Ads by 0.9% in the 1st quarter. Bank of America Corp DE now owns 2,893,892 shares of the real estate investment trust’s stock worth $86,788,000 after acquiring an additional 25,662 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Orix Corp Ads by 16.3% during the 1st quarter. Quantinno Capital Management LP now owns 924,415 shares of the real estate investment trust’s stock worth $27,723,000 after acquiring an additional 129,739 shares during the period. Eagle Global Advisors LLC boosted its position in shares of Orix Corp Ads by 6.4% during the 4th quarter. Eagle Global Advisors LLC now owns 334,998 shares of the real estate investment trust’s stock valued at $9,789,000 after acquiring an additional 20,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Orix Corp Ads by 29.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,170 shares of the real estate investment trust’s stock valued at $8,303,000 after acquiring an additional 65,067 shares during the last quarter. 1.73% of the stock is currently owned by hedge funds and other institutional investors.

Orix Corp Ads Company Profile

ORIX Corporation ADS (NYSE: IX) is the American depositary share listing of ORIX Corporation, a diversified financial services group headquartered in Tokyo, Japan. The company operates across multiple business lines that include leasing and lending, real estate, investment and asset management, and a range of retail and corporate financial services. ORIX’s ADS program allows U.S. investors to access ownership in the Tokyo-based group through shares traded on the New York Stock Exchange.

Core activities include equipment leasing and installment financing for corporate customers, corporate lending and structured finance, and real estate development and property management.