Orion Group (NYSE:ORN) Reaches New 1-Year High – Time to Buy?

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price hit a new 52-week high on Thursday . The company traded as high as $12.69 and last traded at $12.7350, with a volume of 206099 shares traded. The stock had previously closed at $11.18.

Analysts Set New Price Targets

Several brokerages have commented on ORN. Weiss Ratings restated a “hold (c)” rating on shares of Orion Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Orion Group in a research note on Thursday. They set an “overweight” rating and a $16.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Orion Group currently has an average rating of “Moderate Buy” and an average target price of $13.75.

Orion Group Trading Up 16.7%

The stock has a market cap of $520.50 million, a P/E ratio of 56.72, a price-to-earnings-growth ratio of 3.07 and a beta of 1.16. The stock’s 50-day moving average is $10.24 and its two-hundred day moving average is $8.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.35.

Orion Group (NYSE:ORN) last released its quarterly earnings data on Wednesday, October 29th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $225.10 million during the quarter, compared to the consensus estimate of $224.47 million. Orion Group had a net margin of 1.13% and a return on equity of 6.88%. Equities research analysts anticipate that Orion Group Holdings, Inc. will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Orion Group by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 859,800 shares of the construction company’s stock valued at $7,800,000 after purchasing an additional 54,345 shares during the last quarter. Ardsley Advisory Partners LP grew its stake in shares of Orion Group by 30.0% during the second quarter. Ardsley Advisory Partners LP now owns 325,000 shares of the construction company’s stock valued at $2,948,000 after buying an additional 75,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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. bought a new stake in shares of Orion Group during the 2nd quarter worth approximately $884,000. Finally, First Wilshire Securities Management Inc. purchased a new position in Orion Group during the 2nd quarter valued at $4,813,000. Institutional investors own 70.25% of the company’s stock.

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.