Wall Street Zen Upgrades Olin (NYSE:OLN) to Hold

Olin (NYSE:OLN) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. Barclays cut their price target on Olin from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 28th. Morgan Stanley reduced their price target on Olin from $28.00 to $20.00 and set an “underweight” rating on the stock in a research report on Monday, May 12th. Piper Sandler reduced their price target on Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Truist Financial reduced their price target on Olin from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their price target on Olin from $28.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.57.

Olin Stock Performance

Shares of Olin stock opened at $18.21 on Friday. The firm has a market cap of $2.09 billion, a P/E ratio of -151.75 and a beta of 1.55. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. Olin has a 12 month low of $17.66 and a 12 month high of $49.60. The stock’s fifty day moving average price is $20.60 and its 200-day moving average price is $23.20.

Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that Olin will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olin

A number of large investors have recently bought and sold shares of the company. Covestor Ltd boosted its position in Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 419 shares during the last quarter. Vestcor Inc boosted its stake in shares of Olin by 4.6% in the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company’s stock worth $306,000 after buying an additional 558 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 743 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Olin by 13.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company’s stock worth $164,000 after buying an additional 778 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Olin by 22.0% in the second quarter. Blue Trust Inc. now owns 4,979 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 899 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, and chlorinated organics intermediates and solvents.