Orion Group Holdings, Inc. (ORN) Upgraded at Canaccord Genuity

Canaccord Genuity upgraded shares of Orion Group Holdings, Inc. (NYSE:ORN) from a hold rating to a buy rating in a research note published on Wednesday, November 8th, The Fly reports.

Several other research analysts have also weighed in on the company. B. Riley reiterated a buy rating on shares of Orion Group in a report on Wednesday, November 1st. FBR & Co dropped their target price on Orion Group from $12.00 to $10.00 and set a buy rating on the stock in a report on Friday, August 18th. Finally, Zacks Investment Research raised Orion Group from a strong sell rating to a hold rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $8.50.

Shares of Orion Group (NYSE:ORN) traded down $0.07 during mid-day trading on Wednesday, reaching $7.78. The company’s stock had a trading volume of 82,925 shares, compared to its average volume of 125,329. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. Orion Group has a 12 month low of $5.17 and a 12 month high of $11.11.

Orion Group (NYSE:ORN) last released its earnings results on Wednesday, November 8th. The construction company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.25). Orion Group had a negative net margin of 2.76% and a negative return on equity of 2.96%. The firm had revenue of $140.20 million during the quarter, compared to analyst estimates of $166.08 million. During the same period last year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was down 14.5% on a year-over-year basis. equities research analysts expect that Orion Group will post -0.05 earnings per share for the current fiscal year.

In other Orion Group news, Director Austin J. Shanfelter sold 9,721 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $7.50, for a total transaction of $72,907.50. Following the completion of the sale, the director now directly owns 31,430 shares in the company, valued at approximately $235,725. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in shares of Orion Group by 12.6% during the 1st quarter. Wells Fargo & Company MN now owns 61,937 shares of the construction company’s stock worth $463,000 after acquiring an additional 6,924 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Orion Group by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 312,968 shares of the construction company’s stock valued at $2,338,000 after buying an additional 14,096 shares during the period. Ameriprise Financial Inc. increased its position in shares of Orion Group by 9.4% during the first quarter. Ameriprise Financial Inc. now owns 154,430 shares of the construction company’s stock valued at $1,154,000 after buying an additional 13,310 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Orion Group by 35.2% in the first quarter. OppenheimerFunds Inc. now owns 51,379 shares of the construction company’s stock worth $384,000 after buying an additional 13,367 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Orion Group by 3.6% during the first quarter. Principal Financial Group Inc. now owns 210,396 shares of the construction company’s stock valued at $1,572,000 after purchasing an additional 7,396 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

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Orion Group Company Profile

Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.

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