Orion (NYSE:OEC) Price Target Cut to $18.00 by Analysts at JPMorgan Chase & Co.

Orion (NYSE:OEC) had its price target reduced by JPMorgan Chase & Co. from $21.00 to $18.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Separately, UBS Group lowered their price objective on Orion from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday.

Orion Stock Performance

Shares of OEC opened at $15.11 on Friday. The business has a fifty day moving average of $14.96 and a 200 day moving average of $16.43. Orion has a one year low of $13.32 and a one year high of $26.05. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.24 and a quick ratio of 0.71. The firm has a market capitalization of $872.03 million, a P/E ratio of 20.14 and a beta of 1.50.

Orion (NYSE:OEC) last released its quarterly earnings results on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. Orion had a return on equity of 20.94% and a net margin of 2.35%. The business had revenue of $434.20 million during the quarter, compared to analyst estimates of $437.03 million. As a group, sell-side analysts anticipate that Orion will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Orion

Several large investors have recently made changes to their positions in OEC. Creative Planning purchased a new stake in shares of Orion in the third quarter worth about $490,000. Roubaix Capital LLC lifted its position in shares of Orion by 68.2% in the third quarter. Roubaix Capital LLC now owns 308,303 shares of the specialty chemicals company’s stock worth $5,491,000 after buying an additional 124,986 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Orion by 24.6% in the third quarter. Janney Montgomery Scott LLC now owns 42,163 shares of the specialty chemicals company’s stock worth $751,000 after buying an additional 8,321 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Orion by 103.8% in the third quarter. GSA Capital Partners LLP now owns 128,501 shares of the specialty chemicals company’s stock worth $2,289,000 after buying an additional 65,453 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Orion by 20.2% in the third quarter. Victory Capital Management Inc. now owns 1,179,181 shares of the specialty chemicals company’s stock worth $21,001,000 after buying an additional 198,182 shares in the last quarter. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

Orion Company Profile

Orion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings.