Orion Group (NYSE:ORN) Lifted to “Buy” at B. Riley

B. Riley upgraded shares of Orion Group (NYSE:ORN) from a neutral rating to a buy rating in a research note released on Monday morning, Benzinga reports. The firm currently has $5.00 price target on the construction company’s stock, up from their prior price target of $4.00.

A number of other equities research analysts have also recently issued reports on ORN. Zacks Investment Research upgraded shares of Hudson Technologies from a sell rating to a hold rating in a report on Wednesday, May 29th. TheStreet upgraded shares of Taitron Components from a c+ rating to a b- rating in a report on Tuesday, April 9th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Mizuho started coverage on shares of Merck & Co., Inc. in a research report on Tuesday, July 2nd. They set a buy rating and a $97.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $6.97.

ORN stock opened at $3.66 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 1.39. Orion Group has a 52-week low of $1.80 and a 52-week high of $9.83. The company’s 50-day moving average price is $2.49.

Orion Group (NYSE:ORN) last released its quarterly earnings results on Thursday, May 9th. The construction company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). Orion Group had a negative net margin of 20.19% and a negative return on equity of 9.60%. The firm had revenue of $143.11 million for the quarter, compared to the consensus estimate of $126.76 million. As a group, equities analysts anticipate that Orion Group will post -0.27 EPS for the current fiscal year.

In related news, CFO Robert L. Tabb acquired 20,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $1.94 per share, with a total value of $38,800.00. Following the completion of the transaction, the chief financial officer now owns 26,872 shares of the company’s stock, valued at $52,131.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter R. Buchler acquired 30,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $1.98 per share, with a total value of $59,400.00. Following the transaction, the vice president now directly owns 180,656 shares of the company’s stock, valued at approximately $357,698.88. The disclosure for this purchase can be found here. Insiders have bought 63,285 shares of company stock valued at $124,098 in the last ninety days. 7.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Walthausen & Co. LLC raised its position in shares of Orion Group by 91.8% during the fourth quarter. Walthausen & Co. LLC now owns 336,800 shares of the construction company’s stock valued at $1,445,000 after buying an additional 161,240 shares during the last quarter. Prudential Financial Inc. raised its position in Orion Group by 14.5% in the fourth quarter. Prudential Financial Inc. now owns 53,986 shares of the construction company’s stock worth $232,000 after purchasing an additional 6,838 shares in the last quarter. Grace & White Inc. NY raised its position in Orion Group by 9.9% in the first quarter. Grace & White Inc. NY now owns 1,147,983 shares of the construction company’s stock worth $3,352,000 after purchasing an additional 103,649 shares in the last quarter. SG Americas Securities LLC raised its position in Orion Group by 42.9% in the first quarter. SG Americas Securities LLC now owns 16,374 shares of the construction company’s stock worth $48,000 after purchasing an additional 4,914 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Orion Group in the fourth quarter worth about $382,000. 93.36% of the stock is owned by institutional investors and hedge funds.

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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