Orion Group (NYSE:ORN) Shares Up 6.3% After Analyst Upgrade

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price rose 6.3% during trading on Thursday after DA Davidson raised their price target on the stock from $13.00 to $15.00. DA Davidson currently has a buy rating on the stock. Orion Group traded as high as $14.66 and last traded at $13.6850. Approximately 425,958 shares changed hands during mid-day trading, an increase of 42% from the average daily volume of 299,526 shares. The stock had previously closed at $12.87.

A number of other research firms have also recently issued reports on ORN. B. Riley Financial reiterated a “buy” rating on shares of Orion Group in a report on Thursday. JPMorgan Chase & Co. initiated coverage on Orion Group in a research note on Thursday, January 22nd. They issued an “overweight” rating and a $16.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Orion Group in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.17.

Institutional Trading of Orion Group

A number of institutional investors have recently modified their holdings of ORN. Quarry LP purchased a new stake in shares of Orion Group in the 3rd quarter worth approximately $33,000. First Horizon Advisors Inc. grew its stake in shares of Orion Group by 171.1% in the second quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock worth $41,000 after acquiring an additional 2,832 shares during the last quarter. Comerica Bank increased its holdings in shares of Orion Group by 219.7% during the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock valued at $43,000 after acquiring an additional 3,562 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Orion Group during the third quarter valued at $86,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Orion Group in the 3rd quarter worth about $87,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Orion Group Trading Up 3.2%

The stock’s 50 day moving average is $11.04 and its 200-day moving average is $9.31. The company has a market cap of $564.19 million, a P/E ratio of 61.48 and a beta of 1.18. The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.18.

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.