DA Davidson Maintains a Buy on Orion Group (ORN)
Orion Group Holdings, Inc. (NYSE:ORN) is one of the Overlooked Small Cap Stocks to Buy Now. Recently, on February 6, DA Davidson maintained a Buy rating on Orion Group Holdings, Inc. (NYSE:ORN) and raised the price target from $13 to $15. On February 5, Liam Burke from B. Riley Securities also reiterated a Buy rating on the stock and raised the price target from $11.5 to $15.5.
The bullish sentiment follows the company’s acquisition of J.E. McAmis, Inc. and its affiliate JEM Marine Leasing LLC on February 4 for around $60 million. Management noted that this acquisition will add to the Orion Group Holdings, Inc. (NYSE:ORN)’s marine construction segment by adding expertise in tough jobs like building jetties, breakwaters, dredging, and environmental work.
Analysts at DA Davidson noted the acquisition to be a “solid strategic fit” for Orion and highlighted that the financial merits of the deal are attractive. The firm also noted that the company is turning into a more offensive investment story with strong growth in its marine infrastructure segment.
Orion Group Holdings, Inc. (NYSE:ORN) specializes in marine and concrete construction services across the U.S., Canada, and the Caribbean. The company operates through two main segments including Marine and the Concrete segments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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