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

Orion (NYSE:OEC) had its price target dropped by JPMorgan Chase & Co. from $21.00 to $18.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 17.03% from the company’s previous close.

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

Orion Stock Up 1.5 %

Shares of NYSE OEC traded up $0.23 during mid-day trading on Friday, reaching $15.38. The company had a trading volume of 100,034 shares, compared to its average volume of 426,278. Orion has a 52-week low of $13.32 and a 52-week high of $26.05. The stock has a market cap of $887.79 million, a P/E ratio of 20.51 and a beta of 1.50. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 1.42. The firm has a 50 day simple moving average of $14.96 and a two-hundred day simple moving average of $16.43.

Orion (NYSE:OEC) last issued 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 analyst estimates of $437.03 million. Sell-side analysts predict that Orion will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Orion

Several hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Orion in the 3rd quarter valued at approximately $27,000. Point72 DIFC Ltd boosted its position in shares of Orion by 1,578.7% during the 3rd quarter. Point72 DIFC Ltd now owns 4,415 shares of the specialty chemicals company’s stock worth $79,000 after purchasing an additional 4,152 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Orion by 1,112.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,624 shares of the specialty chemicals company’s stock worth $154,000 after purchasing an additional 7,913 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Orion in the 4th quarter valued at about $171,000. Finally, MQS Management LLC acquired a new stake in shares of Orion in the third quarter valued at about $190,000. Institutional investors and hedge funds 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.