Orion Group (NYSE:ORN) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Orion Group (NYSE:ORN) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. The brokerage currently has $4.75 price objective on the construction company’s stock.

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. “

A number of other equities analysts also recently issued reports on ORN. Mizuho reissued a buy rating and set a $7.10 target price on shares of Orion Group in a research note on Tuesday, July 2nd. B. Riley increased their target price on Orion Group from $5.00 to $5.75 and gave the stock a buy rating in a research note on Friday, August 2nd. ValuEngine downgraded Orion Group from a strong-buy rating to a buy rating in a research note on Friday, October 4th. Finally, Noble Financial reissued a buy rating and set a $7.10 target price on shares of Orion Group in a research note on Sunday, October 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $6.54.

Shares of ORN stock traded up $0.13 during trading hours on Friday, reaching $4.41. 37,745 shares of the company’s stock were exchanged, compared to its average volume of 76,529. The company has a market cap of $126.48 million, a P/E ratio of -11.92 and a beta of 1.11. The company’s 50 day moving average is $4.35 and its two-hundred day moving average is $3.38. Orion Group has a 1 year low of $1.80 and a 1 year high of $6.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.35 and a quick ratio of 1.34.

Orion Group (NYSE:ORN) last issued its earnings results on Wednesday, July 31st. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.15. The business had revenue of $165.99 million during the quarter, compared to the consensus estimate of $153.44 million. Orion Group had a negative return on equity of 12.42% and a negative net margin of 20.68%. As a group, analysts predict that Orion Group will post -0.18 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alambic Investment Management L.P. purchased a new position in Orion Group in the 2nd quarter valued at approximately $38,000. Eidelman Virant Capital purchased a new position in Orion Group in the 2nd quarter valued at approximately $80,000. RBF Capital LLC purchased a new position in Orion Group in the 2nd quarter valued at approximately $1,946,000. Russell Investments Group Ltd. increased its stake in Orion Group by 8.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,387,323 shares of the construction company’s stock valued at $11,750,000 after purchasing an additional 348,362 shares in the last quarter. Finally, Boston Partners increased its stake in Orion Group by 13.9% in the 2nd quarter. Boston Partners now owns 3,192,191 shares of the construction company’s stock valued at $8,555,000 after purchasing an additional 389,115 shares in the last quarter. 78.95% of the stock is owned by hedge funds and other institutional investors.

About Orion Group

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.

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