D.A. Davidson Expects Reported Bookings to Decline for Orion Marine Group

In a report published Friday, D.A. Davidson analyst John B. Rogers reiterated a Neutral rating and $11.00 price target on

. In the report, D.A. Davidson noted, “Orion reported $60 million of bids in the fourth quarter, a win rate of 21%. Additionally, Orion is the apparent low bidder on $50 million worth of $230 million bids outstanding. We had anticipated $133 million of bookings compared to $137 million last year. Management did not provide comments for final results for Q4 but indicated ‘strong levels of asset utilization'.” Orion Marine Group closed on Thursday at $10.36.