Orix Corp Ads (NYSE:IX) Reaches New 52-Week High – Still a Buy?

Orix Corp Ads (NYSE:IX)’s stock price reached a new 52-week high on Monday . The company traded as high as $32.79 and last traded at $33.4390, with a volume of 18024 shares. The stock had previously closed at $32.30.

Analysts Set New Price Targets

IX has been the topic of a number of research reports. Wall Street Zen lowered shares of Orix Corp Ads from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Orix Corp Ads in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Orix Corp Ads Price Performance

The company has a current ratio of 1.81, a quick ratio of 1.77 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $38.78 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 0.99 and a beta of 0.74. The company’s 50 day moving average is $29.61 and its 200-day moving average is $26.93.

Orix Corp Ads (NYSE:IX) last issued its earnings results on Wednesday, November 12th. The real estate investment trust reported $0.99 EPS for the quarter, topping the consensus estimate of $0.57 by $0.42. Orix Corp Ads had a return on equity of 10.30% and a net margin of 14.53%.The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $4.87 billion. Equities research analysts anticipate that Orix Corp Ads will post 11.31 earnings per share for the current year.

Institutional Trading of Orix Corp Ads

A number of hedge funds have recently modified their holdings of the stock. Plan A Wealth LLC boosted its holdings in shares of Orix Corp Ads by 6.1% during the 4th quarter. Plan A Wealth LLC now owns 24,318 shares of the real estate investment trust’s stock worth $711,000 after buying an additional 1,396 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Orix Corp Ads by 1,318.6% during the fourth quarter. Global Retirement Partners LLC now owns 20,485 shares of the real estate investment trust’s stock worth $599,000 after acquiring an additional 19,041 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Orix Corp Ads by 7.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 44,060 shares of the real estate investment trust’s stock valued at $1,287,000 after purchasing an additional 3,192 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Orix Corp Ads by 5.7% during the fourth quarter. HighTower Advisors LLC now owns 57,060 shares of the real estate investment trust’s stock worth $1,667,000 after purchasing an additional 3,096 shares during the period. Finally, Abacus Wealth Partners LLC bought a new position in shares of Orix Corp Ads during the fourth quarter worth approximately $233,000. Institutional investors and hedge funds own 1.73% of the company’s stock.

About Orix Corp Ads

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.