Orion (NYSE:OEC) PT Raised to $26.00

Orion (NYSE:OEC) had its target price upped by equities researchers at Mizuho from $25.00 to $26.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price target would suggest a potential upside of 7.26% from the stock’s current price.

Several other brokerages have also weighed in on OEC. UBS Group cut their price objective on shares of Orion from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. StockNews.com raised shares of Orion from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Orion Stock Performance

NYSE:OEC opened at $24.24 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.47 and a debt-to-equity ratio of 1.42. Orion has a fifty-two week low of $19.32 and a fifty-two week high of $28.48. The stock has a market cap of $1.41 billion, a PE ratio of 14.01 and a beta of 1.62. The firm’s fifty day simple moving average is $23.40 and its 200-day simple moving average is $23.44.

Orion (NYSE:OEC) last posted its quarterly earnings results on Thursday, February 15th. The specialty chemicals company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). The company had revenue of $468.20 million for the quarter, compared to analyst estimates of $421.62 million. Orion had a return on equity of 24.45% and a net margin of 5.46%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. Analysts expect that Orion will post 2.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orion

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its position in Orion by 94.9% in the first quarter. Mutual of America Capital Management LLC now owns 270,832 shares of the specialty chemicals company’s stock worth $6,370,000 after acquiring an additional 131,902 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Orion by 11.0% in the first quarter. Janney Montgomery Scott LLC now owns 26,441 shares of the specialty chemicals company’s stock worth $622,000 after acquiring an additional 2,630 shares in the last quarter. BNP Paribas Financial Markets raised its position in Orion by 51.8% in the first quarter. BNP Paribas Financial Markets now owns 67,503 shares of the specialty chemicals company’s stock worth $1,588,000 after acquiring an additional 23,026 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Orion by 154.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,335 shares of the specialty chemicals company’s stock worth $478,000 after acquiring an additional 12,343 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Orion in the 1st quarter worth about $569,000. 94.33% of the stock is currently owned by institutional investors.

About Orion

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.