Orion (NYSE:OEC) Stock Rating Upgraded by Wall Street Zen

Orion (NYSE:OEC) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other research firms have also commented on OEC. Weiss Ratings restated a “sell (d)” rating on shares of Orion in a research report on Friday, July 17th. UBS Group lifted their price objective on shares of Orion from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Zacks Research raised shares of Orion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average target price of $6.08.

Orion Trading Down 5.1%

Shares of NYSE OEC opened at $6.87 on Friday. Orion has a 12-month low of $4.34 and a 12-month high of $10.89. The company has a market cap of $388.29 million, a price-to-earnings ratio of -3.97 and a beta of 1.00. The company has a current ratio of 1.03, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72. The stock’s 50 day simple moving average is $6.84 and its 200 day simple moving average is $6.60.

Orion (NYSE:OEC) last issued its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Orion had a negative return on equity of 0.31% and a negative net margin of 5.28%.The company had revenue of $500.90 million for the quarter, compared to the consensus estimate of $474.43 million. Equities research analysts expect that Orion will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Orion

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP boosted its stake in Orion by 430.9% during the 4th quarter. Quarry LP now owns 5,861 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 4,757 shares in the last quarter. Performa Ltd US LLC raised its stake in shares of Orion by 690.0% in the 4th quarter. Performa Ltd US LLC now owns 7,900 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 6,900 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Orion in the fourth quarter valued at $53,000. Blue Trust Inc. acquired a new stake in shares of Orion in the first quarter valued at $55,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Orion by 277.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 11,147 shares of the specialty chemicals company’s stock valued at $59,000 after buying an additional 8,194 shares during the period. Institutional investors own 94.33% of the company’s stock.

About Orion

Orion Engineered Carbons SA, operating as Orion (NYSE: OEC), is a global producer of carbon black, a critical performance additive used to enhance the strength, durability and conductivity of various materials. The company’s products chiefly serve the tire and rubber industry, where carbon black imparts wear resistance and longevity, as well as the plastics, coatings, inks and battery components markets, where specialty grades deliver tailored conductivity and color properties.

Orion’s product portfolio is organized into two core segments: Rubber and Specialty and Chemical Specialties.