JPMorgan Chase & Co. Lowers Orion (NYSE:OEC) Price Target to $18.00

Orion (NYSE:OEC) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $21.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.14% from the company’s current price.

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

Orion Trading Down 0.3 %

Shares of NYSE OEC opened at $15.11 on Friday. Orion has a fifty-two week low of $13.32 and a fifty-two week high of $26.05. The company has a market cap of $872.03 million, a price-to-earnings ratio of 20.14 and a beta of 1.50. The business’s 50 day moving average price is $14.91 and its 200-day moving average price is $16.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.71 and a current ratio of 1.24.

Orion (NYSE:OEC) last announced its quarterly earnings data on Wednesday, February 19th. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, topping 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 company had revenue of $434.20 million for the quarter, compared to analysts’ expectations of $437.03 million. On average, sell-side analysts expect that Orion will post 1.73 earnings per share for the current year.

Institutional Trading of Orion

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Orion by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,760 shares of the specialty chemicals company’s stock valued at $517,000 after acquiring an additional 1,164 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Orion by 11.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 13,637 shares of the specialty chemicals company’s stock valued at $243,000 after acquiring an additional 1,396 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Orion during the 3rd quarter valued at $27,000. Franklin Resources Inc. boosted its position in Orion by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 57,672 shares of the specialty chemicals company’s stock valued at $984,000 after acquiring an additional 1,775 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Orion by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 35,294 shares of the specialty chemicals company’s stock valued at $557,000 after acquiring an additional 1,954 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.

About Orion

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.