Orion Group (NYSE:ORN) Now Covered by Oppenheimer

Analysts at Oppenheimer began coverage on shares of Orion Group (NYSE:ORN) in a report issued on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $20.00 price target on the construction company’s stock. Oppenheimer’s target price would indicate a potential upside of 37.35% from the company’s previous close.

Several other equities research analysts have also weighed in on ORN. Zacks Research lowered shares of Orion Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen raised 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 note on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their target price on Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Orion Group currently has an average rating of “Moderate Buy” and an average price target of $17.60.

Orion Group Stock Down 2.2%

NYSE ORN traded down $0.33 during trading on Tuesday, reaching $14.56. The company’s stock had a trading volume of 24,442 shares, compared to its average volume of 387,966. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $589.43 million, a PE ratio of 69.36 and a beta of 1.34. Orion Group has a 1-year low of $6.44 and a 1-year high of $17.40. The business has a 50-day moving average price of $14.60 and a 200-day moving average price of $12.73.

Orion Group (NYSE:ORN) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 earnings per share (EPS) for the quarter. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. The business had revenue of $216.30 million during the quarter, compared to analyst estimates of $198.12 million. On average, research analysts forecast that Orion Group will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Margaret M. Foran sold 10,695 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $15.70, for a total value of $167,911.50. Following the completion of the transaction, the director owned 116,846 shares of the company’s stock, valued at $1,834,482.20. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 40,695 shares of company stock valued at $606,512 in the last three months. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Orion Group

A number of hedge funds have recently made changes to their positions in the stock. Brandes Investment Partners LP increased its holdings in shares of Orion Group by 1.1% during the fourth quarter. Brandes Investment Partners LP now owns 5,010,193 shares of the construction company’s stock worth $49,801,000 after buying an additional 56,663 shares in the last quarter. Wasatch Advisors LP grew its position in Orion Group by 1.8% during the 4th quarter. Wasatch Advisors LP now owns 2,267,707 shares of the construction company’s stock worth $22,541,000 after acquiring an additional 41,188 shares during the last quarter. Vanguard Group Inc. increased its holdings in Orion Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,024,885 shares of the construction company’s stock worth $16,847,000 after purchasing an additional 5,572 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Orion Group by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,684,977 shares of the construction company’s stock worth $14,019,000 after purchasing an additional 17,390 shares in the last quarter. Finally, Invesco Ltd. raised its position in Orion Group by 1.6% in the fourth quarter. Invesco Ltd. now owns 1,292,193 shares of the construction company’s stock valued at $12,844,000 after purchasing an additional 20,835 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.