UBS Group Cuts Orion Engineered Carbons (NYSE:OEC) Price Target to $21.00

Orion Engineered Carbons (NYSE:OEC) had its price target cut by analysts at UBS Group from $26.00 to $21.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s target price suggests a potential upside of 29.55% from the company’s previous close.

Several other equities research analysts have also recently weighed in on OEC. TheStreet cut Orion Engineered Carbons from a “b-” rating to a “c+” rating in a report on Tuesday, August 6th. Zacks Investment Research upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded Orion Engineered Carbons from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Loop Capital cut Orion Engineered Carbons from a “buy” rating to a “hold” rating and lowered their target price for the company from $29.00 to $17.00 in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $22.60.

NYSE OEC traded up $0.08 on Thursday, hitting $16.21. The company’s stock had a trading volume of 22,658 shares, compared to its average volume of 334,244. Orion Engineered Carbons has a 52-week low of $12.10 and a 52-week high of $29.13. The company has a current ratio of 1.77, a quick ratio of 1.23 and a debt-to-equity ratio of 3.81. The company’s 50-day simple moving average is $15.29 and its 200 day simple moving average is $17.99. The firm has a market cap of $955.87 million, a P/E ratio of 7.33, a PEG ratio of 0.88 and a beta of 1.29.

Orion Engineered Carbons (NYSE:OEC) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Orion Engineered Carbons had a return on equity of 71.44% and a net margin of 5.64%. The business had revenue of $399.02 million during the quarter, compared to analysts’ expectations of $391.68 million. During the same quarter last year, the business posted $0.69 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts forecast that Orion Engineered Carbons will post 1.82 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OEC. BlackRock Inc. lifted its stake in shares of Orion Engineered Carbons by 136,236.1% in the 2nd quarter. BlackRock Inc. now owns 2,789,437 shares of the specialty chemicals company’s stock valued at $59,722,000 after purchasing an additional 2,787,391 shares during the period. Ancora Advisors LLC bought a new position in Orion Engineered Carbons during the 2nd quarter valued at approximately $9,804,000. Russell Investments Group Ltd. bought a new position in Orion Engineered Carbons during the 2nd quarter valued at approximately $8,865,000. Investment Counselors of Maryland LLC increased its position in Orion Engineered Carbons by 43.4% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,150,476 shares of the specialty chemicals company’s stock valued at $24,632,000 after buying an additional 347,956 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Orion Engineered Carbons during the 2nd quarter valued at approximately $7,414,000. Institutional investors own 96.66% of the company’s stock.

Orion Engineered Carbons Company Profile

Orion Engineered Carbons SA, together with its subsidiaries, produces and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates through two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; and various conductive carbon black grades for use in polymer and printing applications, as well as in silicon, non-woven textile, building material, battery electrodes metallurgical, agrochemical, and carbon brush applications.

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