B.Riley FBR analyst Alex Rygiel reiterated a Buy rating on Orion Group Holdings (NYSE: ORN) today and set a price target of $11. The company’s shares closed yesterday at $8.19.
Rygiel commented:
“Earlier this week, we had Orion Group Holdings (ORN) management on the road to meet with investors. The company’s longer-term market trends remain favorable with additional potential opportunities from the $5B USACE TX recovery funding projects. In the near term, however, the recent wet weather in Texas is impacting the concrete segment and the company secured some marine equipment in preparation for the east coast. As a result, we are lowering our estimates for 3Q18 under the assumption the weather does not improve over the next 2 weeks. We are raising our 2019 estimates for the recently announced large contract award in Florida. We believe we are at, what should be, a positive inflection point for ORN.”
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 12.3% and a 62.7% 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 Strong Buy, with a price target consensus of $10.33.
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Orion Group Holdings’ market cap is currently $235.1M and has a P/E ratio of 21.55. The company has a Price to Book ratio of 0.98.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock.
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Orion Group Holdings, Inc. is a specialty construction company, which engages in the provision of water services. It operates thrpugh the Marine and Concrete segments.
