Notable Price Action: Orion Engineered Carbons SA Surges to 52-Week High, Is Now Top Performer

Notable Price Action: Orion Engineered Carbons SA Surges to 52 Week High, Is Now Top Performer

The stock of Orion Engineered Carbons SA (NYSE:OEC) hit a new 52-week high and has $32.84 target or 65.00% above today’s $19.90 share price. The 9 months bullish chart indicates low risk for the $1.19 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $32.84 price target is reached, the company will be worth $773.50M 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 74,312 shares traded hands or 5.62% up from the average. Orion Engineered Carbons SA (NYSE:OEC) has risen 43.86% since April 5, 2016 and is uptrending. It has outperformed by 41.90% the S&P500.

Orion Engineered Carbons SA (NYSE:OEC) Ratings Coverage

Out of 5 analysts covering Orion Engineered Carbons (NYSE:OEC), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Orion Engineered Carbons has been the topic of 8 analyst reports since August 10, 2015 according to StockzIntelligence Inc. BB&T Capital initiated the shares of OEC in a report on Friday, June 10 with “Buy” rating. On Friday, October 30 the stock rating was downgraded by UBS to “Neutral”. The stock of Orion Engineered Carbons SA (NYSE:OEC) earned “Equal-Weight” rating by Barclays Capital on Tuesday, December 29. Macquarie Research maintained Orion Engineered Carbons SA (NYSE:OEC) on Monday, March 7 with “Neutral” rating. The rating was maintained by JP Morgan with “Overweight” on Monday, August 15.

According to Zacks Investment Research, “Orion Engineered Carbons S.A. operates as a supplier of Carbon Black. It offers products for Coatings, Printing Inks, Polymers, Rubber and other applications. Orion operates in two segments: Specialty Carbon Black and Rubber Carbon Black. The Company’s Gas Blacks, Furnace Blacks and Specialty Carbon Blacks tint, colorize and enhance the performance of plastics, paints and coatings, inks and toners, adhesives and sealants, tires, and manufactured rubber goods such as automotive belts and hoses. Orion Engineered Carbons S.A. is headquartered in Luxembourg.”

More important recent Orion Engineered Carbons SA (NYSE:OEC) news were published by: Businesswire.com which released: “Orion Engineered Carbons Announces Completion of Acquisition of Chinese Carbon …” on January 14, 2016, also Businesswire.com published article titled: “Orion Engineered Carbons Acquires Evonik and DEG Shares in Chinese Carbon …”, Moodys.com published: “Moody’s upgrades Orion Engineered Carbons’ CFR to Ba3, with stable outlook” on June 23, 2015. More interesting news about Orion Engineered Carbons SA (NYSE:OEC) was released by: Quotes.Wsj.com and their article: “DOW JONES, A NEWS CORP COMPANY” with publication date: July 19, 2014.

OEC Company Profile

Orion Engineered Carbons S.A., incorporated on May 2, 2011, is a producer of carbon black. The Firm conducts its activities through two divisions: the Specialty Carbon Black segment and the Rubber Carbon Black segment. The Specialty Carbon Black segment is engaged in the production of specialty black carbon. The Rubber Carbon Black segment is involved in the production of rubber carbon black. The Firm offers over 270 specialty carbon black grades and approximately 80 rubber carbon black grades. Carbon black is used as a pigment and as a performance additive in coatings, polymers, printing and special applications (specialty carbon black), and in the reinforcement of rubber in tires and mechanical rubber goods (rubber carbon black). The Firm operates over 10 production facilities in Europe, North and South America, Asia and South Africa, as well as one jointly-owned production plant in Germany.

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