Orix Corp Ads (NYSE:IX) Hits New 12-Month High – Here’s Why

Orix Corp Ads (NYSE:IX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $32.79 and last traded at $33.4390, with a volume of 18024 shares changing hands. The stock had previously closed at $32.30.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IX shares. Weiss Ratings restated a “buy (b-)” rating on shares of Orix Corp Ads in a research report on Monday, December 29th. Wall Street Zen downgraded Orix Corp Ads from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Orix Corp Ads presently has an average rating of “Buy”.

Orix Corp Ads Stock Up 5.4%

The firm has a 50 day moving average price of $29.61 and a 200-day moving average price of $26.93. The firm has a market cap of $38.78 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.81 and a quick ratio of 1.77.

Orix Corp Ads (NYSE:IX) last issued its earnings results on Wednesday, November 12th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.42. Orix Corp Ads had a net margin of 14.53% and a return on equity of 10.30%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $4.87 billion. As a group, equities analysts predict that Orix Corp Ads will post 11.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Orix Corp Ads

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IX. CWM LLC boosted its stake in Orix Corp Ads by 121.9% in the 3rd quarter. CWM LLC now owns 93,913 shares of the real estate investment trust’s stock worth $2,453,000 after purchasing an additional 51,595 shares during the period. Vise Technologies Inc. bought a new stake in shares of Orix Corp Ads in the second quarter valued at about $892,000. Hantz Financial Services Inc. boosted its position in shares of Orix Corp Ads by 1,105.8% during the second quarter. Hantz Financial Services Inc. now owns 2,484 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 2,278 shares during the period. Simon Quick Advisors LLC bought a new position in shares of Orix Corp Ads during the second quarter worth about $338,000. Finally, Sivia Capital Partners LLC acquired a new stake in Orix Corp Ads in the 2nd quarter valued at approximately $247,000. Institutional investors own 1.73% of the company’s stock.

About Orix Corp Ads

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.