Orion (NYSE:OEC) Price Target Cut to $5.00 by Analysts at JPMorgan Chase & Co.

Orion (NYSE:OEC) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $9.00 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 3.19% from the company’s previous close.

A number of other research firms have also recently commented on OEC. Mizuho set a $6.00 price target on Orion in a report on Monday, October 20th. Zacks Research upgraded Orion from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. UBS Group lowered shares of Orion from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $12.00 to $7.00 in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a research note on Wednesday, October 8th. Two research 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 company currently has a consensus rating of “Strong Sell” and an average target price of $6.00.

Orion Price Performance

Shares of NYSE:OEC opened at $5.17 on Friday. The company has a market capitalization of $290.01 million, a P/E ratio of -8.91 and a beta of 1.07. Orion has a 1-year low of $4.34 and a 1-year high of $19.48. The firm’s 50 day simple moving average is $5.96 and its two-hundred day simple moving average is $8.99. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.08 and a quick ratio of 0.64.

Orion (NYSE:OEC) last announced its quarterly earnings data 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). Orion had a positive return on equity of 14.90% and a negative net margin of 1.74%.The firm had revenue of $450.90 million during the quarter, compared to analysts’ expectations of $453.45 million. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts expect that Orion will post 1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Orion

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in Orion during the 1st quarter valued at $59,000. Tower Research Capital LLC TRC increased its position in Orion by 321.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,382 shares of the specialty chemicals company’s stock valued at $77,000 after acquiring an additional 5,632 shares during the last quarter. CWM LLC raised its stake in shares of Orion by 831.7% in the first quarter. CWM LLC now owns 6,662 shares of the specialty chemicals company’s stock valued at $86,000 after acquiring an additional 5,947 shares during the period. Glenmede Investment Management LP bought a new stake in shares of Orion in the 3rd quarter worth about $89,000. Finally, Cowa LLC purchased a new position in shares of Orion during the 3rd quarter worth about $104,000. Hedge funds and other institutional investors own 94.33% of the company’s stock.

Orion Company Profile

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.