Barclays Upgrades Olin (NYSE:OLN) to Hold

Key Points

• Barclays upgraded Olin to “Hold”, but broader analyst sentiment remains cautious: 12 analysts rate the stock Hold, three rate it Sell, and one rates it Buy. The consensus rating is “Reduce,” with a price target of $20.43.
• Olin shares opened at $15.01, near the company’s 12-month low of $14.64 and well below its 200-day moving average of $22.06.
• The specialty chemicals company missed quarterly expectations, reporting a loss of $0.12 per share versus an expected $0.13 profit, while revenue fell 0.9% year over year to $1.74 billion. Analysts expect a full-year loss of $0.68 per share.

Olin (NYSE:OLN - Get Free Report) was upgraded by analysts at Barclays to a "hold" rating in a note issued to investors on Monday, Zacks reports.

A number of other analysts have also recently issued reports on the company. Citigroup decreased their target price on Olin from $19.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, September 30th. BMO Capital Markets dropped their target price on shares of Olin from $30.00 to $25.00 and set a "market perform" rating for the company in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Olin from $30.00 to $20.00 and set a "hold" rating on the stock in a report on Tuesday, August 25th. UBS Group cut their price target on shares of Olin from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Finally, Wall Street Zen cut shares of Olin from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $20.43.

Olin Price Performance

Shares of Olin stock opened at $15.01 on Monday. The business's fifty day moving average price is $17.12 and its 200 day moving average price is $22.06. Olin has a twelve month low of $14.64 and a twelve month high of $30.46. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $1.71 billion, a P/E ratio of -12.20 and a beta of 1.23.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%. The business's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, research analysts anticipate that Olin will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OLN. CX Institutional purchased a new position in shares of Olin in the third quarter valued at $76,000. Tidal Investments LLC grew its holdings in Olin by 16.7% during the 2nd quarter. Tidal Investments LLC now owns 50,158 shares of the specialty chemicals company's stock valued at $994,000 after purchasing an additional 7,175 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Olin during the 2nd quarter worth $1,747,000. Engineers Gate Manager LP increased its stake in Olin by 1,601.5% during the 2nd quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company's stock worth $4,172,000 after buying an additional 198,108 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Olin during the 2nd quarter worth $205,000. Institutional investors and hedge funds own 88.67% of the company's stock.

About Olin

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.