Zacks Investment Research Lowers Orion Group (NYSE:ORN) to Hold

Zacks Investment Research downgraded shares of Orion Group (NYSE:ORN) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

ORN has been the subject of a number of other research reports. Noble Financial restated a buy rating and set a $7.10 price target on shares of Orion Group in a report on Sunday, October 6th. ValuEngine downgraded shares of Orion Group from a strong-buy rating to a buy rating in a report on Friday, October 4th. B. Riley raised their price target on shares of Orion Group from $5.00 to $5.75 and gave the stock a buy rating in a report on Friday, August 2nd. Finally, Mizuho restated a buy rating and set a $7.10 price target on shares of Orion Group in a report on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $6.54.

ORN traded up $0.13 during trading on Wednesday, reaching $4.41. The company’s stock had a trading volume of 37,745 shares, compared to its average volume of 76,529. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 0.75. The firm has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $3.38. Orion Group has a 1 year low of $1.80 and a 1 year high of $6.49. The company has a market cap of $126.48 million, a price-to-earnings ratio of -11.92 and a beta of 1.11.

Orion Group (NYSE:ORN) last announced its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 20.68% and a negative return on equity of 12.42%. As a group, equities analysts forecast that Orion Group will post -0.18 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in ORN. Russell Investments Group Ltd. increased its holdings 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 during the last quarter. Boston Partners increased its holdings 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 during the last quarter. Grace & White Inc. NY increased its holdings in Orion Group by 35.3% in the 2nd quarter. Grace & White Inc. NY now owns 1,553,777 shares of the construction company’s stock valued at $4,164,000 after purchasing an additional 405,794 shares during the last quarter. RBF Capital LLC acquired a new stake in Orion Group in the 2nd quarter valued at approximately $1,946,000. Finally, Renaissance Technologies LLC increased its holdings in Orion Group by 31.0% in the 2nd quarter. Renaissance Technologies LLC now owns 611,095 shares of the construction company’s stock valued at $1,638,000 after purchasing an additional 144,600 shares during the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.

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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