Orion Group (NYSE:ORN) Price Target Raised to $17.00

Orion Group (NYSE:ORN) had its target price increased by B. Riley Financial from $15.50 to $17.00 in a report released on Thursday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the construction company’s stock.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Orion Group in a research note on Thursday, January 22nd. Roth Mkm began coverage on shares of Orion Group in a report on Tuesday, February 10th. They issued a “buy” rating and a $17.00 target price on the stock. Zacks Research raised shares of Orion Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. began coverage on Orion Group in a research note on Thursday, January 22nd. They set an “overweight” rating and a $16.00 price target for the company. Finally, DA Davidson boosted their price objective on Orion Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $16.25.

Orion Group Price Performance

Shares of NYSE:ORN opened at $11.69 on Thursday. Orion Group has a twelve month low of $4.64 and a twelve month high of $15.00. The stock’s 50 day moving average is $12.25 and its 200-day moving average is $10.16. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $468.57 million, a price-to-earnings ratio of 233.80 and a beta of 1.15.

Orion Group (NYSE:ORN) last posted its quarterly earnings results on Tuesday, March 3rd. The construction company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $233.22 million during the quarter, compared to the consensus estimate of $222.42 million. Orion Group had a net margin of 0.29% and a return on equity of 4.14%. Sell-side analysts forecast that Orion Group will post 0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Orion Group

Several large investors have recently made changes to their positions in ORN. Barclays PLC raised its stake in shares of Orion Group by 1.0% during the 4th quarter. Barclays PLC now owns 89,908 shares of the construction company’s stock worth $894,000 after purchasing an additional 888 shares during the period. Deutsche Bank AG boosted its holdings in shares of Orion Group by 5.7% in the 4th quarter. Deutsche Bank AG now owns 33,690 shares of the construction company’s stock worth $335,000 after buying an additional 1,802 shares during the last quarter. Empowered Funds LLC grew its position in Orion Group by 1.9% during the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock valued at $626,000 after buying an additional 2,220 shares during the period. OLD National Bancorp IN grew its position in Orion Group by 20.7% during the third quarter. OLD National Bancorp IN now owns 16,047 shares of the construction company’s stock valued at $134,000 after buying an additional 2,751 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Orion Group by 171.1% during the second quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock worth $41,000 after buying an additional 2,832 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.