Orion Group (NYSE:ORN) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Orion Group (NYSE:ORN) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on ORN. Wall Street Zen lowered Orion Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 1st. Oppenheimer initiated coverage on shares of Orion Group in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $20.00 target price on the stock. Roth Capital set a $15.00 price target on Orion Group in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Weiss Ratings downgraded shares of Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.20.

Orion Group Stock Performance

Shares of ORN stock opened at $10.40 on Tuesday. Orion Group has a 52-week low of $6.44 and a 52-week high of $17.40. The stock has a market cap of $421.02 million, a PE ratio of 115.55 and a beta of 1.40. The business has a 50-day simple moving average of $13.78 and a 200-day simple moving average of $13.04. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.62.

Orion Group (NYSE:ORN) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The business had revenue of $221.88 million during the quarter, compared to analysts’ expectations of $225.72 million. Orion Group had a net margin of 0.40% and a return on equity of 3.07%. On average, equities analysts expect that Orion Group will post 0.12 EPS for the current year.

Insider Transactions at Orion Group

In other news, Director Robert Ledford bought 20,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $9.62 per share, with a total value of $192,400.00. Following the completion of the acquisition, the director directly owned 43,112 shares in the company, valued at approximately $414,737.44. The trade was a 86.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary E. Sullivan acquired 3,000 shares of the stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $9.79 per share, for a total transaction of $29,370.00. Following the purchase, the director directly owned 277,904 shares in the company, valued at approximately $2,720,680.16. The trade was a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 28,000 shares of company stock valued at $270,820. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Orion Group

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in shares of 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 purchasing an additional 187,819 shares during the period. NewEdge Advisors LLC lifted its holdings in Orion Group by 55.7% during the 1st quarter. NewEdge Advisors LLC now owns 25,001 shares of the construction company’s stock valued at $131,000 after purchasing an additional 8,945 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Orion Group by 1.9% in the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock valued at $626,000 after acquiring an additional 2,220 shares during the last quarter. Strs Ohio bought a new position in Orion Group in the 1st quarter valued at $175,000. Finally, Creative Planning bought a new position in Orion Group in the 2nd quarter valued at $202,000. Institutional investors own 70.25% of the company’s stock.

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.