Olin (NYSE:OLN) Raised to “Hold” at Barclays

Olin (NYSE:OLN) was upgraded by investment analysts at Barclays to a “hold” rating in a report issued on Monday, Zacks reports.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Olin from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 1st. Citigroup cut their price target on shares of Olin from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Olin from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, August 25th. Bank of America lowered shares of Olin from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $32.00 to $21.00 in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada decreased their price objective on shares of Olin from $20.00 to $16.00 and set a “sector perform” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Olin presently has a consensus rating of “Reduce” and an average target price of $20.43.

Olin Trading Up 0.9%

Shares of NYSE OLN opened at $15.01 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. Olin has a 12 month low of $14.64 and a 12 month high of $30.46. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -12.20 and a beta of 1.23. The business has a fifty day simple moving average of $17.12 and a 200-day simple moving average of $22.06.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted ($0.01) EPS. Olin’s quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts predict that Olin will post -0.68 EPS for the current year.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently bought and sold shares of OLN. Dimensional Fund Advisors LP increased its stake in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after buying an additional 1,031,498 shares during the period. Bank of New York Mellon Corp lifted its position in Olin by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,232,912 shares of the specialty chemicals company’s stock worth $36,654,000 after buying an additional 12,290 shares in the last quarter. First Trust Advisors LP lifted its position in Olin by 80.8% in the 1st quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company’s stock worth $21,199,000 after buying an additional 318,588 shares in the last quarter. Amundi boosted its stake in shares of Olin by 337.2% during the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock valued at $20,336,000 after buying an additional 527,586 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Olin during the 1st quarter valued at $14,770,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.