Olin (OLN) Upgraded at Zacks Investment Research
Olin (NYSE:OLN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $42.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.67% from the company’s previous close.
According to Zacks, “Olin Corporation is a manufacturer concentrated in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products, with eight U.S. manufacturing facilities and one Canadian manufacturing facility, produces chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid. Winchester, with its principal manufacturing facilities in East Alton, IL and Oxford, MS, produces and distributes sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. The company markets its products through its sales force, as well as directly to various industrial customers, mass merchants, retailers, wholesalers, other distributors, and the U.S. Government and its prime contractors. “
A number of other equities research analysts also recently commented on the company. Morgan Stanley initiated coverage on Olin in a research report on Tuesday. They issued an “overweight” rating and a $45.00 price objective for the company. Vertical Research upgraded Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 target price on shares of Olin in a report on Thursday, December 14th. SunTrust Banks reiterated a “buy” rating and issued a $46.00 target price on shares of Olin in a report on Monday, November 6th. Finally, TheStreet upgraded Olin from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $39.10.
Shares of Olin (NYSE OLN) opened at $37.95 on Friday. The company has a market capitalization of $6,320.00, a price-to-earnings ratio of 82.50, a PEG ratio of 1.20 and a beta of 1.39. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.03. Olin has a 1 year low of $25.60 and a 1 year high of $38.84.
Olin (NYSE:OLN) last announced its quarterly earnings data on Monday, October 30th. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Olin had a net margin of 1.29% and a return on equity of 6.05%. Olin’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. analysts expect that Olin will post 0.93 EPS for the current year.
In related news, EVP John L. Mcintosh sold 9,500 shares of Olin stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $35.42, for a total value of $336,490.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Dolores J. Ennico sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $552,000.00. The disclosure for this sale can be found here. Insiders sold 75,083 shares of company stock worth $2,741,284 in the last quarter. 2.90% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of OLN. Acrospire Investment Management LLC lifted its stake in shares of Olin by 238.5% during the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 3,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Olin by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 544 shares in the last quarter. Frontier Wealth Management LLC acquired a new position in shares of Olin during the second quarter worth about $200,000. Neuberger Berman Group LLC acquired a new position in shares of Olin during the third quarter worth about $216,000. Finally, Heartland Advisors Inc. acquired a new position in shares of Olin during the third quarter worth about $217,000. Institutional investors own 89.68% of the company’s stock.
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Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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