Zacks Investment Research lowered shares of Omega Protein Corp. (NYSE:OME) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Omega Protein Corporation, headquartered in Houston, is one of the nation’s leading producers of edible fish oil, which is high in nutritionally desirable Omega-3 fatty acids and is used in a variety of food products. Omega Protein also produces specialty fish meals for use in livestock feeds, and fish solubles which are used as an organic fertilizer and in other applications. (Company Press Release) “
A number of other research analysts have also recently issued reports on OME. Pivotal Research raised their price objective on Omega Protein Corp. from $25.00 to $30.00 and gave the company a buy rating in a research note on Tuesday, August 2nd. DA Davidson raised their price objective on Omega Protein Corp. from $20.00 to $26.00 and gave the company a neutral rating in a research note on Thursday, August 4th. Finally, Wunderlich cut Omega Protein Corp. from a buy rating to a hold rating and raised their price objective for the company from $22.00 to $26.00 in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Omega Protein Corp. has a consensus rating of Hold and a consensus price target of $25.65.
Omega Protein Corp. (NYSE:OME) opened at 23.06 on Wednesday. Omega Protein Corp. has a 1-year low of $14.58 and a 1-year high of $26.00. The company’s 50-day moving average price is $24.28 and its 200-day moving average price is $21.27. The firm has a market capitalization of $514.35 million, a P/E ratio of 18.92 and a beta of 0.62.
Omega Protein Corp. (NYSE:OME) last released its earnings results on Wednesday, August 3rd. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.14. The business had revenue of $112.65 million for the quarter, compared to analysts’ expectations of $99.12 million. Omega Protein Corp. had a return on equity of 14.70% and a net margin of 7.03%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Equities research analysts expect that Omega Protein Corp. will post $2.03 earnings per share for the current fiscal year.
In related news, Director Gary L. Allee sold 11,200 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $24.34, for a total value of $272,608.00. Following the sale, the director now directly owns 46,101 shares of the company’s stock, valued at $1,122,098.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Johannesen sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $25.70, for a total value of $436,900.00. Following the completion of the sale, the chief financial officer now directly owns 59,418 shares in the company, valued at $1,527,042.60. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. LSV Asset Management boosted its stake in Omega Protein Corp. by 13.7% in the second quarter. LSV Asset Management now owns 1,189,059 shares of the company’s stock valued at $23,769,000 after buying an additional 142,828 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Omega Protein Corp. by 168.5% in the second quarter. Franklin Resources Inc. now owns 1,062,300 shares of the company’s stock valued at $21,235,000 after buying an additional 666,600 shares during the period. Allianz Asset Management AG raised its stake in shares of Omega Protein Corp. by 32.2% in the second quarter. Allianz Asset Management AG now owns 723,416 shares of the company’s stock valued at $14,461,000 after buying an additional 176,218 shares during the period. AQR Capital Management LLC raised its stake in shares of Omega Protein Corp. by 24.5% in the second quarter. AQR Capital Management LLC now owns 621,397 shares of the company’s stock valued at $12,421,000 after buying an additional 122,377 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of Omega Protein Corp. by 2.6% in the second quarter. BlackRock Fund Advisors now owns 570,629 shares of the company’s stock valued at $11,407,000 after buying an additional 14,472 shares during the period. 86.87% of the stock is currently owned by institutional investors.
Omega Protein Corp. Company Profile
Omega Protein Corporation is a nutritional products company that develops, produces and delivers nutritious products across the world. The Company operates through two segments: animal nutrition and human nutrition. The Company’s animal nutrition segment consists primarily of two subsidiaries: Omega Protein, Inc (Omega Protein) and Omega Shipyard, Inc (Omega Shipyard).