Zacks Investment Research downgraded shares of Orion Group Holdings Inc (NYSE:ORN) from a hold rating to a sell rating in a report released on Thursday morning.
According to Zacks, “Orion Group Holdings, Inc. is a construction company which provides services on and off the water primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company’s operating segment consists of heavy civil marine construction segment and commercial concrete segment. Heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar and mesh across the light commercial, structural and other associated business areas. Orion Group Holdings, Inc., formerly known as Orion Marine Group Inc., is headquartered in Houston, Texas. “
A number of other analysts also recently issued reports on ORN. FBR & Co boosted their price objective on shares of Orion Group Holdings from $9.00 to $14.00 and gave the company an outperform rating in a report on Thursday, January 26th. Canaccord Genuity reissued a hold rating and issued a $9.00 price objective on shares of Orion Group Holdings in a report on Friday, March 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $9.30.
Shares of Orion Group Holdings (NYSE:ORN) opened at 7.81 on Thursday. The firm’s market cap is $216.83 million. Orion Group Holdings has a 12-month low of $4.57 and a 12-month high of $11.11. The stock’s 50 day moving average is $9.67 and its 200 day moving average is $8.80.
Orion Group Holdings (NYSE:ORN) last posted its quarterly earnings data on Thursday, March 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. The firm earned $144.30 million during the quarter, compared to the consensus estimate of $143.77 million. Orion Group Holdings had a net margin of 0.70% and a return on equity of 1.83%. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. Equities analysts expect that Orion Group Holdings will post $0.32 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Orion Group Holdings by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,568,388 shares of the company’s stock worth $15,606,000 after buying an additional 194,336 shares during the period. Renaissance Technologies LLC increased its stake in shares of Orion Group Holdings by 18.4% in the fourth quarter. Renaissance Technologies LLC now owns 660,700 shares of the company’s stock worth $6,574,000 after buying an additional 102,600 shares during the period. State Street Corp increased its stake in shares of Orion Group Holdings by 6.4% in the fourth quarter. State Street Corp now owns 602,629 shares of the company’s stock worth $5,997,000 after buying an additional 36,355 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Orion Group Holdings during the fourth quarter worth $5,507,000. Finally, Putnam Investments LLC increased its stake in shares of Orion Group Holdings by 25.1% in the fourth quarter. Putnam Investments LLC now owns 530,222 shares of the company’s stock worth $5,276,000 after buying an additional 106,500 shares during the period. 86.75% of the stock is owned by institutional investors.
About Orion Group Holdings
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.
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