Orion Marine Group Inc. (NYSE:ORN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $8.25 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 16.03% from the company’s current price.
According to Zacks, “Orion Group Holdings, Inc. is a construction company which provides services on and off the water primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company’s operating segment consists of heavy civil marine construction segment and commercial concrete segment. Heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar and mesh across the light commercial, structural and other associated business areas. Orion Group Holdings, Inc., formerly known as Orion Marine Group Inc., is headquartered in Houston, Texas. “
Several other equities analysts have also recently weighed in on ORN. DA Davidson raised their price objective on Orion Marine Group from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Canaccord Genuity set a $5.50 price objective on Orion Marine Group and gave the company a “hold” rating in a research note on Saturday, August 6th. Imperial Capital raised their price objective on Orion Marine Group from $6.00 to $6.50 and gave the company an “in-line” rating in a research note on Monday, August 8th. Finally, FBR & Co upgraded Orion Marine Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $6.00 to $9.00 in a research note on Thursday, October 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $7.45.
Orion Marine Group (NYSE:ORN) opened at 7.11 on Wednesday. Orion Marine Group has a 1-year low of $3.25 and a 1-year high of $7.56. The company has a 50 day moving average of $6.43 and a 200 day moving average of $5.68. The firm’s market capitalization is $196.80 million.
Orion Marine Group (NYSE:ORN) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.04. Orion Marine Group had a negative net margin of 1.40% and a negative return on equity of 3.52%. The business earned $140.30 million during the quarter, compared to analyst estimates of $147.21 million. During the same period in the previous year, the business posted ($0.07) EPS. The business’s revenue for the quarter was up 63.0% compared to the same quarter last year. On average, equities research analysts anticipate that Orion Marine Group will post $0.28 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its stake in Orion Marine Group by 3.4% in the first quarter. Prudential Financial Inc. now owns 64,308 shares of the company’s stock worth $333,000 after buying an additional 2,100 shares during the last quarter. Franklin Resources Inc. boosted its stake in Orion Marine Group by 12.2% in the first quarter. Franklin Resources Inc. now owns 460,000 shares of the company’s stock worth $2,383,000 after buying an additional 50,000 shares during the last quarter. Pacific Global Investment Management CO boosted its stake in Orion Marine Group by 8.5% in the first quarter. Pacific Global Investment Management CO now owns 478,800 shares of the company’s stock worth $2,480,000 after buying an additional 37,450 shares during the last quarter. Geode Capital Management LLC boosted its stake in Orion Marine Group by 1.3% in the first quarter. Geode Capital Management LLC now owns 159,574 shares of the company’s stock worth $826,000 after buying an additional 2,109 shares during the last quarter. Finally, Foundry Partners LLC boosted its stake in Orion Marine Group by 7.4% in the second quarter. Foundry Partners LLC now owns 785,525 shares of the company’s stock worth $4,171,000 after buying an additional 54,210 shares during the last quarter. Institutional investors own 87.81% of the company’s stock.
About Orion Marine Group
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.