Orion Engineered Carbons (OEC) Stock Rating Upgraded by Zacks Investment Research

Orion Engineered Carbons (NYSE:OEC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage currently has a $31.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 26.02% from the company’s current price.

According to Zacks, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg. “

A number of other analysts have also recently commented on the company. ValuEngine upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Loop Capital began coverage on Orion Engineered Carbons in a research report on Wednesday, October 3rd. They set a “buy” rating and a $40.00 price objective for the company. Finally, Northcoast Research reiterated a “buy” rating and set a $40.00 price objective on shares of Orion Engineered Carbons in a research report on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Orion Engineered Carbons presently has a consensus rating of “Buy” and a consensus price target of $33.83.

Orion Engineered Carbons stock traded down $1.40 during midday trading on Wednesday, reaching $24.60. 21,103 shares of the company were exchanged, compared to its average volume of 733,386. The stock has a market cap of $1.57 billion, a PE ratio of 15.18 and a beta of 1.09. Orion Engineered Carbons has a 1 year low of $22.25 and a 1 year high of $36.55. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 4.48.

Orion Engineered Carbons (NYSE:OEC) last posted its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The firm had revenue of $394.00 million during the quarter, compared to analysts’ expectations of $333.14 million. Orion Engineered Carbons had a return on equity of 108.30% and a net margin of 8.22%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, equities analysts predict that Orion Engineered Carbons will post 2.2 EPS for the current year.

A number of large investors have recently modified their holdings of OEC. FMR LLC boosted its stake in Orion Engineered Carbons by 22.3% in the 2nd quarter. FMR LLC now owns 5,261,660 shares of the specialty chemicals company’s stock worth $162,322,000 after buying an additional 957,855 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Orion Engineered Carbons by 25.5% in the 2nd quarter. Victory Capital Management Inc. now owns 3,348,625 shares of the specialty chemicals company’s stock worth $103,305,000 after buying an additional 679,719 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Orion Engineered Carbons by 23.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,538,800 shares of the specialty chemicals company’s stock worth $109,172,000 after buying an additional 679,700 shares during the last quarter. First Manhattan Co. acquired a new stake in Orion Engineered Carbons in the 2nd quarter worth about $9,811,000. Finally, James Investment Research Inc. boosted its stake in Orion Engineered Carbons by 462.7% in the 3rd quarter. James Investment Research Inc. now owns 379,195 shares of the specialty chemicals company’s stock worth $12,172,000 after buying an additional 311,810 shares during the last quarter. 91.46% of the stock is currently owned by hedge funds and other institutional investors.

Orion Engineered Carbons Company Profile

Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.

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