Orion Group (NYSE:ORN) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of Orion Group (NYSE:ORN) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $16.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 43.20% from the stock’s previous close.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Orion Group in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Orion Group presently has a consensus rating of “Moderate Buy” and an average price target of $13.75.

Orion Group Stock Performance

Shares of ORN opened at $11.17 on Thursday. The firm has a market cap of $445.80 million, a price-to-earnings ratio of 48.58, a PEG ratio of 3.07 and a beta of 1.16. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $10.24 and its two-hundred day moving average is $8.97. Orion Group has a 52-week low of $4.64 and a 52-week high of $11.90.

Orion Group (NYSE:ORN) last issued its quarterly earnings results on Wednesday, October 29th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $225.10 million during the quarter, compared to analyst estimates of $224.47 million. Orion Group had a net margin of 1.13% and a return on equity of 6.88%. Analysts forecast that Orion Group will post 0.06 EPS for the current fiscal year.

Institutional Trading of Orion Group

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Orion Group during the 3rd quarter valued at about $33,000. First Horizon Advisors Inc. boosted its stake in Orion Group by 171.1% in the second quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock valued at $41,000 after acquiring an additional 2,832 shares during the period. Comerica Bank grew its holdings in shares of Orion Group by 219.7% during the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after purchasing an additional 3,562 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Orion Group during the third quarter valued at approximately $86,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Orion Group during the 3rd quarter worth approximately $87,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Orion Group Company Profile

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.