Zacks Investment Research upgraded shares of Orion Marine Group Inc. (NYSE:ORN) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $8.25 target price on the stock.
According to Zacks, “Orion Group Holdings, Inc. is a construction company which provides services on and off the water primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company’s operating segment consists of heavy civil marine construction segment and commercial concrete segment. Heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar and mesh across the light commercial, structural and other associated business areas. Orion Group Holdings, Inc., formerly known as Orion Marine Group Inc., is headquartered in Houston, Texas. “
ORN has been the topic of a number of other research reports. FBR & Co upgraded shares of Orion Marine Group from a market perform rating to an outperform rating and boosted their price target for the company from $6.00 to $9.00 in a report on Thursday, October 6th. Imperial Capital upped their price objective on shares of 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. DA Davidson upped their price objective on shares of Orion Marine Group from $5.50 to $6.00 and gave the company a buy rating in a research note on Friday, August 5th. Finally, Canaccord Genuity set a $5.50 price objective on shares of Orion Marine Group and gave the company a hold rating in a research note on Saturday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Orion Marine Group has an average rating of Hold and a consensus target price of $7.05.
Shares of Orion Marine Group (NYSE:ORN) traded down 0.27% during trading on Wednesday, reaching $7.34. 4,683 shares of the company’s stock were exchanged. Orion Marine Group has a 52-week low of $3.25 and a 52-week high of $7.56. The company has a 50 day moving average of $6.41 and a 200 day moving average of $5.67. The firm’s market capitalization is $203.17 million.
Orion Marine Group (NYSE:ORN) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.04. Orion Marine Group had a negative net margin of 1.40% and a negative return on equity of 3.52%. The firm had revenue of $140.30 million for the quarter, compared to analyst estimates of $147.21 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s revenue was up 63.0% compared to the same quarter last year. Equities analysts anticipate that Orion Marine Group will post $0.28 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. True Bearing Asset Management LP acquired a new position in shares of Orion Marine Group during the second quarter valued at approximately $150,000. Guggenheim Capital LLC raised its position in shares of Orion Marine Group by 2.8% in the second quarter. Guggenheim Capital LLC now owns 543,226 shares of the company’s stock valued at $2,885,000 after buying an additional 14,935 shares during the period. Pacific Global Investment Management CO raised its position in shares of Orion Marine Group by 0.6% in the second quarter. Pacific Global Investment Management CO now owns 481,800 shares of the company’s stock valued at $2,558,000 after buying an additional 3,000 shares during the period. State Street Corp raised its position in shares of Orion Marine Group by 5.6% in the second quarter. State Street Corp now owns 553,322 shares of the company’s stock valued at $2,938,000 after buying an additional 29,254 shares during the period. Finally, Spark Investment Management LLC acquired a new position in shares of Orion Marine Group during the second quarter valued at approximately $103,000. Institutional investors own 87.81% of the company’s stock.
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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