Orix Corp Ads (NYSE:IX) Shares Gap Up – Here’s Why

Orix Corp Ads (NYSE:IX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $38.30, but opened at $40.37. Orix Corp Ads shares last traded at $40.5410, with a volume of 21,003 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Orix Corp Ads from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Wall Street Zen cut shares of Orix Corp Ads from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Finally, Zacks Research upgraded shares of Orix Corp Ads from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Orix Corp Ads presently has an average rating of “Buy”.

Orix Corp Ads Price Performance

The stock has a 50-day simple moving average of $38.93 and a 200 day simple moving average of $34.32. The company has a market cap of $45.00 billion, a PE ratio of 15.18, a P/E/G ratio of 0.82 and a beta of 0.89. The company has a quick ratio of 1.73, a current ratio of 1.77 and a debt-to-equity ratio of 1.30.

Orix Corp Ads (NYSE:IX) last released its quarterly earnings results on Tuesday, March 31st. The real estate investment trust reported $1.64 earnings per share for the quarter. The business had revenue of $6.03 billion during the quarter. Orix Corp Ads had a return on equity of 9.93% and a net margin of 13.55%. Equities analysts expect that Orix Corp Ads will post 4.64 EPS for the current year.

Institutional Investors Weigh In On Orix Corp Ads

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of Orix Corp Ads by 336.1% in the 1st quarter. Royal Bank of Canada now owns 38,081 shares of the real estate investment trust’s stock worth $796,000 after acquiring an additional 29,349 shares during the last quarter. AQR Capital Management LLC increased its holdings in Orix Corp Ads by 433.3% in the 1st quarter. AQR Capital Management LLC now owns 44,547 shares of the real estate investment trust’s stock valued at $931,000 after purchasing an additional 36,194 shares during the last quarter. Millennium Management LLC increased its holdings in Orix Corp Ads by 3,021.1% in the 1st quarter. Millennium Management LLC now owns 203,967 shares of the real estate investment trust’s stock valued at $4,261,000 after purchasing an additional 197,432 shares during the last quarter. Jones Financial Companies Lllp raised its position in Orix Corp Ads by 8,083.8% in the first quarter. Jones Financial Companies Lllp now owns 5,565 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 5,497 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Orix Corp Ads by 568.7% in the first quarter. Goldman Sachs Group Inc. now owns 96,454 shares of the real estate investment trust’s stock valued at $2,015,000 after purchasing an additional 82,030 shares during the period. 1.73% of the stock is currently owned by institutional investors and hedge funds.

Orix Corp Ads Company Profile

ORIX Corporation ADS (NYSE: IX) is the American depositary share listing of ORIX Corporation, a diversified financial services group headquartered in Tokyo, Japan. The company operates across multiple business lines that include leasing and lending, real estate, investment and asset management, and a range of retail and corporate financial services. ORIX’s ADS program allows U.S. investors to access ownership in the Tokyo-based group through shares traded on the New York Stock Exchange.

Core activities include equipment leasing and installment financing for corporate customers, corporate lending and structured finance, and real estate development and property management.