Orion Group (NYSE:ORN) Reaches New 12-Month High – Here’s Why

Shares of Orion Group Holdings, Inc. (NYSE:ORN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $15.85 and last traded at $15.68, with a volume of 143139 shares changing hands. The stock had previously closed at $15.34.

Wall Street Analysts Forecast Growth

ORN has been the topic of a number of analyst reports. Zacks Research upgraded shares of Orion Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Weiss Ratings raised shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. B. Riley Financial raised their price objective on shares of Orion Group from $15.50 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen raised shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Orion Group presently has an average rating of “Buy” and a consensus target price of $17.00.

Orion Group Trading Up 2.3%

The firm has a market cap of $635.54 million, a PE ratio of 74.76 and a beta of 1.37. The company’s fifty day moving average price is $13.49 and its two-hundred day moving average price is $12.22. The company has a quick ratio of 1.40, a current ratio of 1.41 and a debt-to-equity ratio of 0.43.

Orion Group (NYSE:ORN) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.05 earnings per share for the quarter. The business had revenue of $216.30 million for the quarter, compared to the consensus estimate of $198.13 million. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. As a group, sell-side analysts forecast that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Orion Group

In other news, Director Margaret M. Foran sold 10,695 shares of Orion Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $15.70, for a total value of $167,911.50. Following the sale, the director owned 116,846 shares of the company’s stock, valued at $1,834,482.20. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 40,695 shares of company stock valued at $606,512 over the last quarter. 5.70% of the stock is owned by insiders.

Institutional Trading of Orion Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Orion Group by 55.5% during the first quarter. Royal Bank of Canada now owns 64,866 shares of the construction company’s stock worth $707,000 after buying an additional 23,155 shares in the last quarter. Sei Investments Co. boosted its holdings in Orion Group by 102.8% during the first quarter. Sei Investments Co. now owns 386,663 shares of the construction company’s stock worth $4,215,000 after buying an additional 196,041 shares in the last quarter. Globeflex Capital L P boosted its holdings in Orion Group by 481.0% during the first quarter. Globeflex Capital L P now owns 71,310 shares of the construction company’s stock worth $777,000 after buying an additional 59,036 shares in the last quarter. First Trust Advisors LP boosted its holdings in Orion Group by 0.6% during the first quarter. First Trust Advisors LP now owns 120,534 shares of the construction company’s stock worth $1,314,000 after buying an additional 697 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Orion Group by 27.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 378,732 shares of the construction company’s stock worth $4,257,000 after buying an additional 80,735 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.