Orion Engineered Carbons (OEC) Cut to Sell at Zacks Investment Research

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

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. “

A number of other equities analysts also recently issued reports on the company. UBS Group upgraded Orion Engineered Carbons from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, November 20th. Loop Capital assumed coverage on Orion Engineered Carbons in a research report on Wednesday, October 3rd. They set a “buy” rating and a $40.00 target price on the stock. Finally, ValuEngine downgraded Orion Engineered Carbons from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.67.

OEC stock opened at $27.54 on Friday. The firm has a market capitalization of $1.64 billion, a PE ratio of 16.90, a PEG ratio of 1.11 and a beta of 0.96. Orion Engineered Carbons has a 1 year low of $23.12 and a 1 year high of $36.55. 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 (NYSE:OEC) last released its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $0.51 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.51. The firm had revenue of $394.00 million for the quarter, compared to the consensus estimate of $333.14 million. Orion Engineered Carbons had a return on equity of 108.30% and a net margin of 8.22%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. On average, equities research analysts expect that Orion Engineered Carbons will post 2.17 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sapphire Star Partners LP purchased a new position in shares of Orion Engineered Carbons in the third quarter valued at about $101,000. Quantbot Technologies LP purchased a new position in shares of Orion Engineered Carbons in the third quarter valued at about $107,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Orion Engineered Carbons in the second quarter valued at about $230,000. Verition Fund Management LLC purchased a new position in shares of Orion Engineered Carbons in the second quarter valued at about $248,000. Finally, Invictus RG purchased a new position in shares of Orion Engineered Carbons in the third quarter valued at about $296,000. Institutional investors own 88.27% 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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