DA Davidson Raises Orion Group (NYSE:ORN) Price Target to $15.00

Orion Group (NYSE:ORN) had its price objective boosted by equities researchers at DA Davidson from $13.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. DA Davidson’s price target points to a potential upside of 6.08% from the stock’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Orion Group in a research note on Thursday, January 22nd. B. Riley Financial reissued a “buy” rating on shares of Orion Group in a research report on Thursday. Finally, JPMorgan Chase & Co. started coverage on Orion Group in a research report on Thursday, January 22nd. They issued an “overweight” rating and a $16.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.17.

Orion Group Trading Up 3.2%

Orion Group stock opened at $14.14 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $11.04 and its two-hundred day simple moving average is $9.31. Orion Group has a 12 month low of $4.64 and a 12 month high of $14.66. The company has a market capitalization of $564.19 million, a price-to-earnings ratio of 61.48 and a beta of 1.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ORN. Geode Capital Management LLC raised its holdings in Orion Group by 6.7% in the 2nd quarter. Geode Capital Management LLC now owns 859,800 shares of the construction company’s stock worth $7,800,000 after purchasing an additional 54,345 shares during the period. Ardsley Advisory Partners LP increased its position in Orion Group by 30.0% in the second quarter. Ardsley Advisory Partners LP now owns 325,000 shares of the construction company’s stock worth $2,948,000 after buying an additional 75,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Orion Group by 30.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,516 shares of the construction company’s stock worth $1,456,000 after buying an additional 37,764 shares during the period. Bastion Asset Management Inc. purchased a new position in shares of Orion Group during the 2nd quarter valued at about $884,000. Finally, First Wilshire Securities Management Inc. bought a new position in shares of Orion Group during the 2nd quarter valued at approximately $4,813,000. 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.