UBS Group Issues Pessimistic Forecast for Orion (NYSE:OEC) Stock Price

Orion (NYSE:OEC) had its price objective decreased by research analysts at UBS Group from $23.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s price objective would indicate a potential upside of 42.11% from the company’s previous close.

Separately, JPMorgan Chase & Co. upgraded Orion from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $21.00 in a research note on Monday, November 11th.

Orion Stock Performance

Shares of OEC traded up $0.82 during mid-day trading on Thursday, hitting $15.48. 57,739 shares of the company’s stock were exchanged, compared to its average volume of 406,570. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 1.42. Orion has a 52 week low of $13.32 and a 52 week high of $26.05. The stock’s 50-day simple moving average is $15.06 and its 200-day simple moving average is $16.45. The firm has a market cap of $893.56 million, a price-to-earnings ratio of 28.93 and a beta of 1.50.

Orion (NYSE:OEC) last announced its quarterly earnings data on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The firm had revenue of $434.20 million during the quarter, compared to analysts’ expectations of $437.03 million. Orion had a return on equity of 18.97% and a net margin of 1.67%. On average, equities research analysts expect that Orion will post 1.63 EPS for the current year.

Hedge Funds Weigh In On Orion

A number of institutional investors and hedge funds have recently bought and sold shares of OEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Orion by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,760 shares of the specialty chemicals company’s stock worth $517,000 after purchasing an additional 1,164 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Orion by 11.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 13,637 shares of the specialty chemicals company’s stock worth $243,000 after acquiring an additional 1,396 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Orion in the 3rd quarter valued at approximately $27,000. Franklin Resources Inc. raised its stake in shares of Orion by 3.2% during the third quarter. Franklin Resources Inc. now owns 57,672 shares of the specialty chemicals company’s stock valued at $984,000 after acquiring an additional 1,775 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Orion by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 35,294 shares of the specialty chemicals company’s stock worth $557,000 after purchasing an additional 1,954 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.

About Orion

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.