Olin (NYSE:OLN) Downgraded to Strong Sell Rating by Zacks Research

Olin (NYSE:OLNGet Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

OLN has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research report on Thursday, January 22nd. KeyCorp reduced their price target on Olin from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Citigroup lifted their price objective on Olin from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, Wells Fargo & Company decreased their price target on Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Olin currently has an average rating of “Hold” and an average price target of $24.00.

Check Out Our Latest Research Report on OLN

Olin Stock Down 6.8%

OLN opened at $20.82 on Thursday. The business’s fifty day moving average is $21.72 and its two-hundred day moving average is $22.03. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.56. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -54.79, a PEG ratio of 3.31 and a beta of 1.64. Olin has a one year low of $17.66 and a one year high of $30.74.

Olin (NYSE:OLNGet Free Report) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Insider Activity

In other news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total transaction of $93,870.00. Following the transaction, the vice president directly owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new position in Olin in the 3rd quarter valued at about $25,000. Evelyn Partners Investment Management LLP lifted its stake in shares of Olin by 6,360.0% in the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olin in the first quarter valued at about $32,000. Bessemer Group Inc. grew its stake in Olin by 712.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin News Summary

Here are the key news stories impacting Olin this week:

About Olin

(Get Free Report)

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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Analyst Recommendations for Olin (NYSE:OLN)

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