Analysts have been eager to weigh in on the Conglomerates sector with new ratings on International Seaways Inc (INSW), LB Foster Company (FSTR) and Orion Group Holdings (ORN).
International Seaways Inc (INSW)
In a report released today, Liam Burke from B.Riley FBR maintained a Hold rating on International Seaways Inc, with a price target of $21.50. The company’s shares closed yesterday at $19.43.
Burke said:
“International Seaways, Inc. (INSW) announced 1Q19 results with a 92.6% Y/Y increase in time charter equivalents (TCE) revenue ($94.0 million vs. $48.8 million) despite fewer revenue days during 1Q19 (3,548 vs. 4,066). The company reported adjusted EPS of $0.37 compared to $0.32 consensus and a loss per share of $0.78 a year ago. Adjusted EBITDA during 1Q19 increased was $47.3 million compared to $6.5 million a year ago and consensus of $43.7 million. Results for 1Q19 reflect improvement in fleetwide daily TCE revenue per vessel increasing from $12,002 in 1Q18 to $26,502 in 1Q19. With a diversified fleet to capture value in both crude oil and refined products, we believe that International Seaways is well positioned to drive strong operating leverage and free cash flow.”
According to TipRanks.com, Burke is ranked #1173 out of 5181 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for International Seaways Inc with a $21.50 average price target.
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LB Foster Company (FSTR)
B.Riley FBR analyst Christopher Van Horn reiterated a Buy rating on LB Foster Company today and set a price target of $30. The company’s shares closed yesterday at $21.90.
Van Horn commented:
“LB Foster reported results yesterday (5/9) morning that were well above expectations on the top- and bottom-lines, along with solid order growth and an increasing backlog. The company continues to see demand in its primary end markets driving continued double-digit growth. The company continues to benefit from midstream spending in the energy markets along with construction market performing well. The company’s rail business is also driving results as we estimate that the company is taking share and has the right product mix for that market. Overall, we view this quarter as positive given the company’s order growth, sales growth, and margin expansion. We continue to rate FSTR $30 price target and think the stock could be at an inflection point to the upside.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 2.2% and a 47.9% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Methode Electronics, and Hickok Incorporated.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for LB Foster Company with a $30 average price target.
Orion Group Holdings (ORN)
B.Riley FBR analyst Alex Rygiel reiterated a Hold rating on Orion Group Holdings today and set a price target of $4. The company’s shares closed yesterday at $2.60, close to its 52-week low of $2.49.
Rygiel observed:
“On the morning of 5/9, Orion Group Holdings (ORN) announced 1Q19 results that were mixed. Revenue was ahead of our expectations, however, EBITDA and EPS were below due to project specific cost over-runs, A/R write-down, weather, and labor/equipment utilization. Management’s operational transformation review and development of its “Invest, Scale and Grow” (ISG) initiatives continues, but with limited details to date. As such, we await formal disclosure of actions to be taken regarding the review and ISG initiatives before becoming more constructive on the shares. We reiterate our Neutral rating and price target of $4.”
According to TipRanks.com, Rygiel is a 4-star analyst with an average return of 6.9% and a 55.8% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.
Orion Group Holdings has an analyst consensus of Hold, with a price target consensus of $4.
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