Orix Corp Ads (NYSE:IX) Sets New 12-Month High – Time to Buy?

Orix Corp Ads (NYSE:IX) hit a new 52-week high on Wednesday . The company traded as high as $40.65 and last traded at $40.52, with a volume of 30119 shares. The stock had previously closed at $40.21.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IX. Zacks Research raised shares of Orix Corp Ads from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings cut Orix Corp Ads from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen downgraded Orix Corp Ads from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Orix Corp Ads currently has a consensus rating of “Buy”.

Orix Corp Ads Price Performance

The firm has a market capitalization of $44.22 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.87 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. The company’s fifty day moving average is $38.75 and its two-hundred day moving average is $34.11.

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

Hedge Funds Weigh In On Orix Corp Ads

Hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP grew its position in shares of Orix Corp Ads by 88.2% during the 2nd quarter. Quantinno Capital Management LP now owns 481,327 shares of the real estate investment trust’s stock worth $10,839,000 after buying an additional 225,580 shares during the period. Millennium Management LLC increased its stake in Orix Corp Ads by 3,021.1% in the first 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 in the last quarter. Calamos Advisors LLC acquired a new stake in Orix Corp Ads in the first quarter worth $4,899,000. Calamos Wealth Management LLC bought a new position in shares of Orix Corp Ads during the fourth quarter worth $4,103,000. Finally, Renaissance Technologies LLC bought a new position in shares of Orix Corp Ads during the first quarter worth $3,287,000. Institutional investors and hedge funds own 1.73% of the company’s stock.

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.