Equities researchers at Oppenheimer started coverage on shares of Orion Group (NYSE:ORN – Get Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $20.00 price target on the construction company’s stock. Oppenheimer’s price objective suggests a potential upside of 37.35% from the stock’s current price.
ORN has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on shares of Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Wall Street Zen upgraded Orion Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, Zacks Research downgraded Orion Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.60.
Check Out Our Latest Research Report on Orion Group
Orion Group Stock Performance
Orion Group (NYSE:ORN – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.05 earnings per share for the quarter. The company had revenue of $216.30 million during the quarter, compared to analyst estimates of $198.12 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. On average, sell-side analysts forecast that Orion Group will post 0.26 EPS for the current fiscal year.
Insider Activity at Orion Group
In other Orion Group news, Director Margaret M. Foran sold 10,695 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $15.70, for a total transaction of $167,911.50. Following the completion of the sale, the director directly owned 116,846 shares in the company, valued at approximately $1,834,482.20. This trade represents a 8.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 40,695 shares of company stock valued at $606,512 over the last ninety days. Company insiders own 5.70% of the company’s stock.
Institutional Investors Weigh In On Orion Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of Orion Group by 55.5% during the 1st quarter. Royal Bank of Canada now owns 64,866 shares of the construction company’s stock valued at $707,000 after buying an additional 23,155 shares during the period. Sei Investments Co. increased its stake in shares of Orion Group by 102.8% in the first quarter. Sei Investments Co. now owns 386,663 shares of the construction company’s stock worth $4,215,000 after acquiring an additional 196,041 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of Orion Group by 481.0% during the first quarter. Globeflex Capital L P now owns 71,310 shares of the construction company’s stock worth $777,000 after acquiring an additional 59,036 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Orion Group by 0.6% during the first quarter. First Trust Advisors LP now owns 120,534 shares of the construction company’s stock worth $1,314,000 after acquiring an additional 697 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Orion Group by 27.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 378,732 shares of the construction company’s stock valued at $4,257,000 after purchasing an additional 80,735 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.
About Orion Group
Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.
Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.
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