Orion (NYSE:OEC) Shares Pass Above 50 Day Moving Average – What’s Next?
by Michael Walen · The Markets DailyOrion S.A. (NYSE:OEC – Get Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.09 and traded as high as $5.27. Orion shares last traded at $5.21, with a volume of 329,534 shares traded.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Zacks Research downgraded Orion from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 16th. UBS Group lowered shares of Orion from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $12.00 to $7.00 in a research note on Friday, October 17th. Mizuho set a $6.00 target price on shares of Orion in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Orion in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Orion from $9.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, November 28th. One analyst has rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and an average price target of $6.00.
Read Our Latest Stock Analysis on OEC
Orion Price Performance
The company has a debt-to-equity ratio of 1.69, a current ratio of 1.08 and a quick ratio of 0.64. The business’s 50-day moving average price is $5.08 and its two-hundred day moving average price is $8.13. The firm has a market cap of $288.89 million, a price-to-earnings ratio of -8.87 and a beta of 1.10.
Orion (NYSE:OEC – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The specialty chemicals company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $450.90 million for the quarter, compared to the consensus estimate of $453.45 million. Orion had a negative net margin of 1.74% and a positive return on equity of 14.90%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. On average, research analysts forecast that Orion S.A. will post 1.73 EPS for the current fiscal year.
Institutional Trading of Orion
Several institutional investors and hedge funds have recently bought and sold shares of the company. Tweedy Browne Co LLC increased its holdings in shares of Orion by 105.4% in the 3rd quarter. Tweedy Browne Co LLC now owns 33,541 shares of the specialty chemicals company’s stock valued at $254,000 after acquiring an additional 17,212 shares during the last quarter. Verition Fund Management LLC increased its stake in Orion by 190.0% during the third quarter. Verition Fund Management LLC now owns 582,141 shares of the specialty chemicals company’s stock valued at $4,413,000 after purchasing an additional 381,388 shares during the last quarter. Polymer Capital Management US LLC raised its holdings in shares of Orion by 28.4% during the third quarter. Polymer Capital Management US LLC now owns 50,458 shares of the specialty chemicals company’s stock worth $382,000 after purchasing an additional 11,160 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Orion by 31.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 603,435 shares of the specialty chemicals company’s stock worth $4,574,000 after buying an additional 145,849 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Orion by 8.6% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 55,405 shares of the specialty chemicals company’s stock worth $420,000 after buying an additional 4,408 shares during the last quarter. Institutional investors and hedge funds 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.