FBR & Co upgraded shares of Orion Marine Group Inc. (NYSE:ORN) from a market perform rating to an outperform rating in a research report report published on Thursday morning. They currently have $9.00 target price on the stock, up from their previous target price of $6.00.
A number of other brokerages also recently issued reports on ORN. Canaccord Genuity set a $5.50 price objective on Orion Marine Group and gave the company a hold rating in a research note on Saturday, August 6th. DA Davidson upped their price objective on Orion Marine Group from $5.50 to $6.00 and gave the company a buy rating in a research note on Friday, August 5th. Zacks Investment Research downgraded Orion Marine Group from a hold rating to a sell rating in a research note on Tuesday, July 12th. Finally, Imperial Capital upped their price objective on Orion Marine Group from $6.00 to $6.50 and gave the company an in-line rating in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Orion Marine Group presently has an average rating of Hold and a consensus target price of $7.05.
Orion Marine Group (NYSE:ORN) opened at 7.34 on Thursday. Orion Marine Group has a 52-week low of $3.25 and a 52-week high of $7.56. The firm has a 50-day moving average price of $6.37 and a 200-day moving average price of $5.66. The company’s market cap is $203.17 million.
Orion Marine Group (NYSE:ORN) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.04. The business earned $140.30 million during the quarter, compared to the consensus estimate of $147.21 million. Orion Marine Group had a negative net margin of 1.40% and a negative return on equity of 3.52%. The firm’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, analysts forecast that Orion Marine Group will post $0.28 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Spark Investment Management LLC purchased a new position in shares of Orion Marine Group during the second quarter worth approximately $103,000. True Bearing Asset Management LP purchased a new position in shares of Orion Marine Group during the second quarter worth approximately $150,000. Teachers Advisors Inc. boosted its position in shares of Orion Marine Group by 4.1% in the second quarter. Teachers Advisors Inc. now owns 48,012 shares of the company’s stock worth $255,000 after buying an additional 1,896 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Orion Marine Group by 1.1% in the second quarter. Rhumbline Advisers now owns 48,330 shares of the company’s stock worth $257,000 after buying an additional 546 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Orion Marine Group by 3.4% in the first quarter. Prudential Financial Inc. now owns 64,308 shares of the company’s stock worth $333,000 after buying an additional 2,100 shares in the last quarter. 87.81% of the stock is currently owned by hedge funds and other institutional investors.
Orion Marine Group Company Profile
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the 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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