What Made B.Riley FBR Upgrade Orion Group Holdings’ Stock?


Orion Group Holdings (ORN) received a Buy rating and a $5 price target from B.Riley FBR analyst Alex Rygiel today. The company’s shares closed yesterday at $3.78.

Rygiel commented:

“Last night, after the close, Orion Group Holdings, Inc. (ORN) announced an award of ~$52M to provide dredging services for the Terminal project in Ingleside, Texas, to accommodate larger crude carriers at the facility. Dredging is expected to begin in 4Q19 and run through 2020. ORN will also assist in the design of the marine terminal. This award further strengthens our confidence with our recent upgrade: the Corner. the company has publicly announced new awards totaling $274M, which we believe is one of (if not) the strongest 4 months in company history. In addition, the award mix looks favorable towards higher margin dredging services. We reiterate our Buy rating and price target of $5.”

According to TipRanks.com, Rygiel is a 4-star analyst with an average return of 6.8% and a 58.6% 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 $177.37, a 4592.3% upside from current levels. In a report issued on July 2, Mizuho Securities also maintained a Buy rating on the stock with a $7.10 price target.

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Based on Orion Group Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $7.92 million. In comparison, last year the company had a net profit of $2.25 million.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ORN in relation to earlier this year.

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Orion Group Holdings, Inc. engages in the provision of specialty construction services in the building, industrial, and infrastructure sectors. It operates through the Marine and Concrete segments.

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