Orion Group (NYSE:ORN) Hits New 12-Month High – Here’s What Happened

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $15.85 and last traded at $15.68, with a volume of 143139 shares traded. The stock had previously closed at $15.34.

Analyst Upgrades and Downgrades

ORN has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Zacks Research upgraded shares of Orion Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. B. Riley Financial raised their target price on shares of Orion Group from $15.50 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Weiss Ratings upgraded Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price target on Orion Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.00.

Orion Group Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.41. The firm’s 50-day moving average price is $13.67 and its two-hundred day moving average price is $12.30. The stock has a market cap of $642.94 million, a price-to-earnings ratio of 75.64 and a beta of 1.37.

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 firm had revenue of $216.30 million during the quarter, compared to analysts’ expectations of $198.12 million. On average, analysts expect that Orion Group Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at Orion Group

In other news, Director Margaret M. Foran sold 10,695 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $15.70, for a total transaction of $167,911.50. Following the completion of the sale, the director owned 116,846 shares in the company, valued at $1,834,482.20. This trade represents a 8.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 40,695 shares of company stock valued at $606,512. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Orion Group in the 4th quarter valued at approximately $2,977,000. Simcoe Capital LLC purchased a new position in shares of Orion Group during the 4th quarter worth approximately $4,509,000. CenterBook Partners LP boosted its position in shares of Orion Group by 27.0% during the 3rd quarter. CenterBook Partners LP now owns 541,511 shares of the construction company’s stock worth $4,505,000 after purchasing an additional 114,986 shares during the period. GSA Capital Partners LLP increased its holdings in Orion Group by 129.9% in the 4th quarter. GSA Capital Partners LLP now owns 106,863 shares of the construction company’s stock valued at $1,062,000 after purchasing an additional 60,373 shares during the last quarter. Finally, Brandes Investment Partners LP increased its holdings in Orion Group by 1.1% in the 4th quarter. Brandes Investment Partners LP now owns 5,010,193 shares of the construction company’s stock valued at $49,801,000 after purchasing an additional 56,663 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Orion Group Company Profile

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.