Orion (NYSE:OEC) Stock Price Expected to Rise, UBS Group Analyst Says

Orion (NYSE:OEC) had its target price boosted by equities research analysts at UBS Group from $7.50 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price objective would suggest a potential upside of 10.57% from the stock’s previous close.

Several other research analysts have also issued reports on OEC. Wall Street Zen lowered Orion from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a report on Friday, July 17th. Finally, Zacks Research raised Orion from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus target price of $6.08.

Orion Trading Down 4.8%

Shares of Orion stock traded down $0.36 during trading on Friday, hitting $7.24. The stock had a trading volume of 560,227 shares, compared to its average volume of 647,190. The firm’s fifty day simple moving average is $6.84 and its 200-day simple moving average is $6.59. The stock has a market cap of $407.98 million, a PE ratio of -4.18 and a beta of 1.00. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.00 and a quick ratio of 0.62. Orion has a 12 month low of $4.34 and a 12 month high of $11.20.

Orion (NYSE:OEC) last issued its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. The firm had revenue of $500.90 million for the quarter, compared to the consensus estimate of $474.43 million. As a group, sell-side analysts expect that Orion will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

A number of hedge funds have recently added to or reduced their stakes in OEC. Royal Bank of Canada boosted its holdings in shares of Orion by 10.7% in the first quarter. Royal Bank of Canada now owns 283,138 shares of the specialty chemicals company’s stock valued at $3,661,000 after purchasing an additional 27,442 shares during the period. AQR Capital Management LLC increased its holdings in Orion by 86.2% during the 1st quarter. AQR Capital Management LLC now owns 149,128 shares of the specialty chemicals company’s stock worth $1,928,000 after purchasing an additional 69,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Orion by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,857 shares of the specialty chemicals company’s stock valued at $438,000 after purchasing an additional 1,097 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Orion during the 1st quarter valued at $137,000. Finally, Jane Street Group LLC lifted its holdings in shares of Orion by 202.7% in the 1st quarter. Jane Street Group LLC now owns 121,078 shares of the specialty chemicals company’s stock worth $1,566,000 after buying an additional 81,079 shares during the period. 94.33% of the stock is currently owned by institutional investors.

Orion Company Profile

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.