Orion Group (NYSE:ORN) Reaches New 12-Month High – Here’s Why

Orion Group Holdings, Inc. (NYSE:ORN) shares reached a new 52-week high on Wednesday . The stock traded as high as $15.85 and last traded at $15.68, with a volume of 143139 shares traded. The stock had previously closed at $15.34.

Analysts Set New Price Targets

Several research firms recently weighed in on ORN. Wall Street Zen upgraded shares of Orion Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Zacks Research upgraded shares of Orion Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. upped their price target on shares of Orion Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of Orion Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, B. Riley Financial upped their price target on shares of Orion Group from $15.50 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Orion Group Stock Performance

The firm’s 50 day moving average price is $13.49 and its two-hundred day moving average price is $12.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.41. The firm has a market cap of $635.54 million, a PE ratio of 74.76 and a beta of 1.37.

Orion Group (NYSE:ORN) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.05 EPS for the quarter. Orion Group had a net margin of 0.98% and a return on equity of 4.44%. The firm had revenue of $216.30 million for the quarter, compared to analyst estimates of $198.13 million. On average, research analysts forecast that Orion Group Holdings, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at Orion Group

In other news, Director Margaret M. Foran sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.62, for a total value of $292,400.00. Following the transaction, the director directly owned 137,541 shares in the company, valued at approximately $2,010,849.42. This represents a 12.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 40,695 shares of company stock valued at $606,512. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Orion Group

Several large investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in Orion Group in the 3rd quarter valued at approximately $33,000. Comerica Bank boosted its position in Orion Group by 219.7% in the 3rd quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after buying an additional 3,562 shares during the period. Fifth Third Bancorp purchased a new position in Orion Group in the 1st quarter valued at approximately $52,000. Susquehanna Fundamental Investments LLC purchased a new position in Orion Group in the 3rd quarter valued at approximately $86,000. Finally, Millennium Management LLC purchased a new position in Orion Group in the 3rd quarter valued at approximately $91,000. 70.25% of the stock is currently 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.