Orion (NYSE:OEC) Upgraded at Zacks Research

Zacks Research upgraded shares of Orion (NYSE:OEC) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Mizuho set a $6.00 price objective on shares of Orion in a research note on Monday, October 20th. UBS Group increased their price target on shares of Orion from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a report on Friday, November 28th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average price target of $5.67.

Orion Price Performance

NYSE OEC opened at $6.12 on Tuesday. Orion has a twelve month low of $4.34 and a twelve month high of $16.63. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.64 and a current ratio of 1.08. The stock has a market capitalization of $343.41 million, a PE ratio of -10.54 and a beta of 1.07. The stock has a 50-day simple moving average of $5.50 and a 200 day simple moving average of $7.31.

Orion (NYSE:OEC) last released its earnings results on Tuesday, November 4th. The specialty chemicals company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $450.90 million during the quarter, compared to analyst estimates of $453.45 million. Orion had a negative net margin of 1.74% and a positive return on equity of 14.90%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. Research analysts anticipate that Orion will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Orion

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its position in shares of Orion by 37.5% during the 2nd quarter. Pzena Investment Management LLC now owns 4,577,197 shares of the specialty chemicals company’s stock valued at $48,015,000 after acquiring an additional 1,248,295 shares in the last quarter. Medina Value Partners LLC lifted its stake in Orion by 245.3% during the third quarter. Medina Value Partners LLC now owns 1,238,058 shares of the specialty chemicals company’s stock worth $9,384,000 after purchasing an additional 879,479 shares during the period. Verition Fund Management LLC boosted its holdings in Orion by 190.0% during the third quarter. Verition Fund Management LLC now owns 582,141 shares of the specialty chemicals company’s stock valued at $4,413,000 after purchasing an additional 381,388 shares in the last quarter. Harvey Partners LLC boosted its holdings in Orion by 15.5% during the second quarter. Harvey Partners LLC now owns 2,424,995 shares of the specialty chemicals company’s stock valued at $25,438,000 after purchasing an additional 325,995 shares in the last quarter. Finally, CSM Advisors LLC grew its stake in shares of Orion by 106.5% in the 3rd quarter. CSM Advisors LLC now owns 539,961 shares of the specialty chemicals company’s stock valued at $4,092,000 after purchasing an additional 278,501 shares during the period. 94.33% of the stock is owned by institutional investors.

Orion Company Profile

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.