Price Action Don’t Lie: Is Buying 52-Week Stock Like Orion Group Holdings Inc a Winning Strategy?

Price Action Don't Lie: Is Buying 52 Week Stock Like Orion Group Holdings Inc a Winning Strategy?

The stock of Orion Group Holdings Inc (NYSE:ORN) hit a new 52-week high and has $19.64 target or 165.00% above today’s $7.41 share price. The 6 months bullish chart indicates low risk for the $211.99M company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $19.64 price target is reached, the company will be worth $349.78M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 161,774 shares traded hands or 138.25% up from the average. Orion Group Holdings Inc (NYSE:ORN) has risen 89.57% since March 4, 2016 and is uptrending. It has outperformed by 81.53% the S&P500.

Analysts await Orion Group Holdings Inc (NYSE:ORN) to report earnings on November, 3. They expect $0.15 EPS, up 155.56% or $0.42 from last year’s $-0.27 per share. ORN’s profit will be $4.29M for 12.35 P/E if the $0.15 EPS becomes a reality. After $-0.03 actual EPS reported by Orion Group Holdings Inc for the previous quarter, Wall Street now forecasts -600.00% EPS growth.

Orion Group Holdings Inc (NYSE:ORN) Ratings Coverage

Out of 5 analysts covering Orion Marine Group (NYSE:ORN), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Orion Marine Group has been the topic of 11 analyst reports since August 11, 2015 according to StockzIntelligence Inc. On Thursday, October 22 the stock rating was maintained by Imperial Capital with “Outperform”. The stock of Orion Group Holdings Inc (NYSE:ORN) earned “In-Line” rating by Imperial Capital on Thursday, May 12. The rating was downgraded by Zacks to “Buy” on Wednesday, August 26. The firm earned “Hold” rating on Friday, October 2 by BB&T Capital. FBR Capital downgraded the shares of ORN in a report on Wednesday, October 21 to “Mkt Perform” rating. On Thursday, October 6 the stock rating was upgraded by FBR Capital to “Outperform”. The rating was upgraded by Zacks to “Hold” on Tuesday, August 11. The stock has “Overweight” rating given by Stephens on Monday, August 17. The firm has “Outperform” rating given on Tuesday, August 25 by FBR Capital. DA Davidson maintained the shares of ORN in a report on Friday, August 5 with “Buy” rating.

According to Zacks Investment Research, “Orion Group Holdings, Inc. is a construction company which provides services on and off the water primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company’s operating segment consists of heavy civil marine construction segment and commercial concrete segment. Heavy civil marine construction segment services includes marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Commercial concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar and mesh across the light commercial, structural and other associated business areas. Orion Group Holdings, Inc., formerly known as Orion Marine Group Inc., is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.21 in Q2 2016. Its down 0.09, from 1.3 in 2016Q1. The ratio dived, as 6 funds sold all Orion Group Holdings Inc shares owned while 27 reduced positions. 11 funds bought stakes while 29 increased positions. They now own 21.54 million shares or 5.54% less from 22.81 million shares in 2016Q1.
Van Den Berg Mngmt I has 1.91M shares for 1.3% of their US portfolio. Commercial Bank Of New York Mellon holds 243,580 shares or 0% of its portfolio. Bank Of Montreal Can holds 5,494 shares or 0% of its portfolio. The New York-based Spark Inv Management Ltd Liability Com has invested 0.01% in Orion Group Holdings Inc (NYSE:ORN). Rhumbline Advisers holds 0% of its portfolio in Orion Group Holdings Inc (NYSE:ORN) for 48,330 shares. Ls Limited Liability Com has 929 shares for 0% of their US portfolio. Teachers Retirement System Of The State Of Kentucky accumulated 4,300 shares or 0% of the stock. Comerica Comml Bank last reported 28,240 shares in the company. The Florida-based State Board Of Administration Of Florida Retirement Systems has invested 0% in Orion Group Holdings Inc (NYSE:ORN). Diam accumulated 76,500 shares or 0.01% of the stock. Moreover, Legal & General Grp Plc has 0% invested in Orion Group Holdings Inc (NYSE:ORN) for 5,059 shares. Invesco last reported 0.01% of its portfolio in the stock. Jpmorgan Chase & Company last reported 0% of its portfolio in the stock. Northern Trust owns 286,059 shares or 0% of their US portfolio. Moreover, Wells Fargo And Co Mn has 0% invested in Orion Group Holdings Inc (NYSE:ORN) for 10,976 shares.

More notable recent Orion Group Holdings Inc (NYSE:ORN) news were published by: Marketwatch.com which released: “Orion Group Holdings Inc.” on April 06, 2010, also Globenewswire.com with their article: “Orion Group Holdings, Inc. Names David Griffith – Investor Relations Manager” published on June 02, 2016, Quotes.Wsj.com published: “News Orion Group Holdings Inc.ORN” on February 11, 2011. More interesting news about Orion Group Holdings Inc (NYSE:ORN) were released by: Globenewswire.com and their article: “Orion Group Holdings, Inc. Schedules Announcement of Second Quarter 2016 …” published on July 12, 2016 as well as Globenewswire.com‘s news article titled: “Orion Marine Group, Inc. Announces New Corporate Name” with publication date: May 24, 2016.

ORN Company Profile

Orion Group Holdings, Inc., formerly Orion Marine Group, Inc., incorporated on October 12, 2004, is engaged in the heavy civil construction project management business. The Firm specializes in marine construction. The Firm provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers. The Company’s heavy civil marine construction and project management services include new construction, dredging, repair and maintenance, and other related specialty services. The Firm provides its heavy civil marine construction services on, over and under the water in the continental United States, Alaska, Canada and the Caribbean Basin. It provides heavy civil marine construction services through projects that are obtained primarily through a competitive bid or contract process. The Company’s business-wide clients include the United States Army Corps of Engineers, the United States Navy, the United States Coast Guard, state transportation departments, local port authorities and private customers, such as petrochemical terminal operators, private terminal operators and recreational waterside facilities.

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