Olin (NYSE:OLN) Stock Rating Lowered by Zacks Research

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

A number of other brokerages have also issued reports on OLN. Mizuho set a $22.00 target price on Olin in a research report on Friday. BMO Capital Markets set a $25.00 price objective on Olin in a report on Friday, January 9th. Bank of America increased their target price on Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Truist Financial lifted their target price on Olin from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. Finally, UBS Group cut their price target on shares of Olin from $24.00 to $22.00 and set a “neutral” 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 assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.00.

Read Our Latest Stock Report on OLN

Olin Price Performance

OLN stock opened at $20.82 on Thursday. Olin has a 1 year low of $17.66 and a 1 year high of $30.74. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.56 and a quick ratio of 0.89. The firm has a market capitalization of $2.38 billion, a PE ratio of -54.79, a price-to-earnings-growth ratio of 3.31 and a beta of 1.64. The business has a 50 day simple moving average of $21.72 and a 200-day simple moving average of $22.03.

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, hitting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion during 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 business’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. Equities research analysts anticipate that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Teresa M. Vermillion sold 4,500 shares of the 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 completion of the sale, the vice president owned 17,199 shares in the company, valued at $358,771.14. This represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AMG National Trust Bank grew its holdings in Olin by 15.3% during the fourth quarter. AMG National Trust Bank now owns 83,894 shares of the specialty chemicals company’s stock worth $1,748,000 after acquiring an additional 11,110 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Olin by 5.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,471 shares of the specialty chemicals company’s stock worth $1,114,000 after purchasing an additional 2,563 shares in the last quarter. Comerica Bank boosted its position in shares of Olin by 27.6% during the 4th quarter. Comerica Bank now owns 103,200 shares of the specialty chemicals company’s stock worth $2,150,000 after purchasing an additional 22,292 shares in the last quarter. UBS Group AG grew its stake in shares of Olin by 52.2% during the 4th quarter. UBS Group AG now owns 1,098,312 shares of the specialty chemicals company’s stock worth $22,878,000 after purchasing an additional 376,543 shares during the period. Finally, Evergreen Capital Management LLC purchased a new position in shares of Olin in the 4th quarter valued at about $342,000. 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:

Olin Company Profile

(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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