Orion (NYSE:OEC) Stock Price Target Lowered at UBS Group

Orion (NYSE:OEC) had its price objective reduced by equities researchers at UBS Group from $8.00 to $6.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target would suggest a potential upside of 10.83% from the company’s previous close.

A number of other brokerages have also recently commented on OEC. Weiss Ratings reiterated a “sell (d)” rating on shares of Orion in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Orion from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Zacks Research upgraded shares of Orion from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Orion has a consensus rating of “Strong Sell” and a consensus price target of $5.58.

Orion Price Performance

Orion stock traded up $0.07 during trading on Monday, reaching $5.87. The company had a trading volume of 374,947 shares, compared to its average volume of 598,608. The firm has a market capitalization of $331.49 million, a PE ratio of -3.39 and a beta of 1.05. The firm’s 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.59. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.64 and a current ratio of 1.03. Orion has a 1-year low of $4.34 and a 1-year high of $8.64.

Orion (NYSE:OEC) last announced its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Orion had a negative net margin of 5.28% and a negative return on equity of 0.31%. The firm had revenue of $500.90 million for the quarter, compared to analyst estimates of $474.43 million. As a group, equities research analysts anticipate that Orion will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orion

A number of institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Orion during the 2nd quarter worth $64,000. Allworth Financial LP lifted its position in Orion by 70.6% in the second quarter. Allworth Financial LP now owns 4,235 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 1,753 shares during the last quarter. Corient Private Wealth LP boosted its stake in Orion by 153.8% during the second quarter. Corient Private Wealth LP now owns 29,183 shares of the specialty chemicals company’s stock worth $194,000 after buying an additional 17,683 shares during the period. AXQ Capital LP acquired a new stake in shares of Orion during the second quarter valued at about $128,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Orion during the second quarter valued at about $89,000. 94.33% of the stock is owned by hedge funds and other institutional investors.

Orion Company Profile

Orion SA (NYSE: OEC) is a specialty chemicals company that develops, manufactures and sells carbon-based products. Its portfolio includes specialty and high-performance carbon black, conductive additives and other engineered materials used in applications such as coatings, plastics, inks, adhesives, batteries, tires and rubber products.

The company serves customers across a range of industries, including automotive, transportation, construction, electronics, energy storage and consumer products.