Olin (NYSE:OLN) Upgraded by Wall Street Zen to Hold Rating

Olin (NYSE:OLN) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on OLN. UBS Group lifted their price target on shares of Olin from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their price objective on Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Citigroup decreased their target price on Olin from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada lowered their target price on Olin from $28.00 to $25.00 and set a “sector perform” rating on the stock in a report on Monday, May 5th. Finally, KeyCorp cut their price target on Olin from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average target price of $27.80.

Olin Price Performance

Shares of NYSE OLN opened at $20.36 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. Olin has a one year low of $17.66 and a one year high of $50.75. The firm has a market capitalization of $2.34 billion, a P/E ratio of 22.62 and a beta of 1.53. The company’s fifty day moving average is $20.82 and its two-hundred day moving average is $26.94.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a net margin of 1.66% and a return on equity of 5.10%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of Olin by 218.9% during the 4th quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company’s stock worth $4,681,000 after purchasing an additional 95,054 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Olin by 8.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company’s stock worth $44,127,000 after acquiring an additional 97,980 shares during the last quarter. Rhumbline Advisers boosted its position in Olin by 1.6% during the fourth quarter. Rhumbline Advisers now owns 324,696 shares of the specialty chemicals company’s stock worth $10,975,000 after acquiring an additional 5,093 shares during the last quarter. Empowered Funds LLC grew its stake in Olin by 8.0% in the 4th quarter. Empowered Funds LLC now owns 22,131 shares of the specialty chemicals company’s stock worth $748,000 after acquiring an additional 1,633 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Olin in the 4th quarter valued at $6,779,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

About Olin

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.