Zacks Investment Research Downgrades Orion Engineered Carbons (OEC) to Sell

Orion Engineered Carbons (NYSE:OEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “

OEC has been the topic of several other reports. ValuEngine upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. UBS Group upgraded Orion Engineered Carbons from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, November 20th. Finally, Loop Capital initiated coverage on Orion Engineered Carbons in a report on Wednesday, October 3rd. They set a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.67.

Orion Engineered Carbons stock opened at $27.00 on Friday. The company has a market cap of $1.60 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.09 and a beta of 0.96. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 4.48. Orion Engineered Carbons has a one year low of $23.12 and a one year high of $36.55.

Orion Engineered Carbons (NYSE:OEC) last released its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $394.00 million for the quarter, compared to analyst estimates of $333.14 million. Orion Engineered Carbons had a return on equity of 108.30% and a net margin of 8.22%. Orion Engineered Carbons’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Sell-side analysts expect that Orion Engineered Carbons will post 2.18 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sapphire Star Partners LP bought a new stake in shares of Orion Engineered Carbons in the 3rd quarter valued at approximately $101,000. Quantbot Technologies LP bought a new stake in shares of Orion Engineered Carbons in the 3rd quarter valued at approximately $107,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Orion Engineered Carbons in the 2nd quarter valued at approximately $230,000. Verition Fund Management LLC bought a new stake in shares of Orion Engineered Carbons in the 2nd quarter valued at approximately $248,000. Finally, Invictus RG bought a new stake in shares of Orion Engineered Carbons in the 3rd quarter valued at approximately $296,000. Institutional investors and hedge funds own 91.10% of the company’s stock.

Orion Engineered Carbons Company Profile

Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.

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