In a report released today, Alex Rygiel from B.Riley FBR maintained a Hold rating on Orion Group Holdings (ORN), with a price target of $7. The company’s shares closed yesterday at $4.40, close to its 52-week low of $4.32.
Rygiel noted:
“Holdings, Inc. (ORN), we are modestly raising our 2018 estimates for 3Q18 results (announced on Nov. 1) which were modestly better than our recently lowered estimates on a higher-than-expected gain on the sale of assets during the quarter. We are leaving our 2019 estimates unchanged and reiterate our Neutral rating. See our downgrade note from 10/19/2018: Lowering Estimates, Lowering PT to $7, Downgrading to Neutral.”
According to TipRanks.com, Rygiel is a 4-star analyst with an average return of 7.9% and a 56.6% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Quanta Services, and MYR Group.
Currently, the analyst consensus on Orion Group Holdings is a Moderate Buy with an average price target of $8.50.
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Orion Group Holdings’ market cap is currently $127.5M and has a P/E ratio of 12.94. The company has a Price to Book ratio of 0.54.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is neutral on the stock. Most recently, in September 2018, Thomas Amonett, a Director at ORN bought 15,000 shares for a total of $90,000.
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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.
