Craig-Hallum initiates Orion with a Buy as turnaround story reaches inflection

As previously reported, Craig-Hallum initiated coverage of Orion Group with a Buy rating and $14 price target. The firm notes that under new leadership, Orion Group has been taking strategic actions to improve growth and profitability as it capitalizes on the massive need to improve marine infrastructure and for concrete construction in its key market of Texas given demographic shifts. Results have been improving and are set to move meaningfully higher, and with shares at less than 5-times EBITDA, Craig-Hallum sees a significant stock opportunity.