Orion Group Holdings, Inc. (NYSE:ORN – Get Free Report) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $16.00.
ORN has been the topic of several research reports. Weiss Ratings downgraded Orion Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Wall Street Zen cut Orion Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 1st. Roth Capital set a $15.00 price target on Orion Group in a research report on Thursday, July 30th. Zacks Research lowered Orion Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Finally, Oppenheimer cut their price target on Orion Group from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th.
Get Our Latest Research Report on Orion Group
Orion Group Trading Down 0.6%
Orion Group (NYSE:ORN – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The company had revenue of $221.88 million during the quarter, compared to the consensus estimate of $225.72 million. Orion Group had a return on equity of 3.07% and a net margin of 0.40%. Sell-side analysts forecast that Orion Group will post 0.12 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Robert Ledford bought 20,000 shares of the stock in a transaction on Friday, July 31st. The stock was bought at an average price of $9.62 per share, for a total transaction of $192,400.00. Following the completion of the acquisition, the director directly owned 43,112 shares in the company, valued at approximately $414,737.44. This represents a 86.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Edward Earle bought 5,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $9.81 per share, for a total transaction of $49,050.00. Following the transaction, the executive vice president directly owned 150,042 shares in the company, valued at approximately $1,471,912.02. This represents a 3.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 28,000 shares of company stock valued at $270,820 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Institutional Investors Weigh In On Orion Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORN. BlackRock Inc. increased its stake in Orion Group by 9.9% during the 2nd quarter. BlackRock Inc. now owns 3,008,011 shares of the company’s stock valued at $50,595,000 after purchasing an additional 270,967 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Orion Group by 21.6% during the second quarter. Wasatch Advisors LP now owns 2,014,110 shares of the company’s stock valued at $33,877,000 after buying an additional 357,276 shares during the last quarter. De Lisle Partners LLP purchased a new position in Orion Group in the 2nd quarter worth $7,067,000. Algert Global LLC lifted its position in Orion Group by 28.1% during the 2nd quarter. Algert Global LLC now owns 323,314 shares of the company’s stock worth $5,438,000 after acquiring an additional 70,913 shares during the period. Finally, Formula Growth Ltd. acquired a new stake in Orion Group during the 2nd quarter worth about $4,317,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.
About Orion Group
Orion Group Holdings, Inc is a construction company that operates through its marine and concrete businesses. Its marine operations provide construction and rehabilitation services for ports, terminals, bridges, waterways, offshore facilities and other marine infrastructure. The company’s capabilities include dredging, marine transportation, heavy civil construction, steel erection, pile driving and specialty marine repair.
Through its concrete operations, Orion performs commercial, industrial and infrastructure concrete work.
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