In a report released yesterday, Robert Burleson from Canaccord Genuity maintained a Buy rating on Orion Group Holdings (NYSE: ORN), with a price target of $10. The company’s shares opened today at $9.08, close to its 52-week high of $9.83.
Burleson commented:
“We hosted ORN CFO Chris DeAlmeida and VP of in Boston. Today’s presentation highlighted the strengthening macro environment for the Marine Construction business particularly ahead of what we anticipate being a multi-year investment cycle related to long term hurricane restoration in the company’s core Texas markets as well as necessary port development along the Gulf Coast to support increased traffic in the Panama Canal. Further, we remain positive on the company’s Commercial concrete business despite recent headwinds on pricing and are optimistic about the development of the company’s higher margin Industrial business. We maintain our BUY rating and $10 price target.”
According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.3% and a 59.9% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Faro Technologies, and Nano Dimension.
Currently, the analyst consensus on Orion Group Holdings is a Strong Buy with an average price target of $10.33, which is a 13.8% upside from current levels. In a report issued on August 3, Noble Financial also maintained a Buy rating on the stock with a $10 price target.
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Orion Group Holdings’ market cap is currently $263M and has a P/E ratio of 24.11. The company has a Price to Book ratio of 1.10.
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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.
