Olin (NYSE:OLN) Cut to “Buy” at StockNews.com

Olin (NYSE:OLN – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts have also weighed in on the company. KeyCorp lifted their price objective on Olin from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, April 5th. UBS Group lifted their price objective on Olin from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, January 4th. Zacks Investment Research lowered Olin from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a report on Monday, January 3rd. Finally, Morgan Stanley decreased their price objective on Olin from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 11th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Olin has an average rating of “Buy” and an average price target of $69.92.

OLN opened at $57.40 on Friday. The firm has a market capitalization of $8.85 billion, a P/E ratio of 7.22 and a beta of 1.37. The stock’s 50 day moving average price is $52.61 and its two-hundred day moving average price is $54.19. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.97. Olin has a 12-month low of $39.90 and a 12-month high of $64.76.

Olin (NYSE:OLN – Get Rating) last released its earnings results on Thursday, January 27th. The specialty chemicals company reported $2.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.53 by ($0.12). The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.39 billion. Olin had a net margin of 14.55% and a return on equity of 59.61%. The business’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS. As a group, analysts anticipate that Olin will post 9.11 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Sageworth Trust Co of South Dakota bought a new position in Olin in the 4th quarter valued at $25,000. Castle Financial & Retirement Planning Associates Inc. bought a new position in Olin in the 4th quarter valued at $31,000. TCI Wealth Advisors Inc. raised its position in Olin by 169.2% in the 1st quarter. TCI Wealth Advisors Inc. now owns 603 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 379 shares during the last quarter. TFO TDC LLC bought a new position in Olin in the 1st quarter valued at $32,000. Finally, National Bank of Canada FI bought a new position in Olin in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 85.14% of the company’s stock.

About Olin (Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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