Olin (NYSE:OLN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Olin from “sell” to “hold.” Overall analyst sentiment remains cautious: 12 analysts rate the stock “hold,” three “sell,” and one “buy,” with an average price target of $20.64.
• Olin’s latest quarter fell short of estimates, reporting EPS of $0.13 versus $0.15 expected and revenue of $1.75 billion versus $1.83 billion expected. Revenue increased 2% year over year.
• Shares opened at $17.31, within a 52-week range of $14.64 to $30.46.

Olin (NYSE:OLN - Get Free Report) 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 Sunday, Wall Street Zen reports.

A number of other research analysts have also recently weighed in on the company. Mizuho raised their price target on Olin from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Truist Financial boosted their price objective on shares of Olin from $15.00 to $17.00 and gave the stock a "hold" rating in a research report on Monday, November 2nd. UBS Group decreased their price objective on shares of Olin from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. KeyCorp began coverage on shares of Olin in a research note on Friday, September 11th. They issued an "overweight" rating and a $26.00 price objective on the stock. Finally, Royal Bank Of Canada raised their target price on shares of Olin from $16.00 to $19.00 and gave the company a "sector perform" rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Olin presently has an average rating of "Reduce" and an average target price of $20.64.

Olin Stock Performance

OLN opened at $17.31 on Friday. Olin has a 1-year low of $14.64 and a 1-year high of $30.46. The stock has a market cap of $1.97 billion, a P/E ratio of -11.77 and a beta of 1.14. The stock's 50 day simple moving average is $16.46 and its 200 day simple moving average is $22.14. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.88.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.83 billion. Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, equities analysts anticipate that Olin will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Olin

Several hedge funds have recently bought and sold shares of OLN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Olin during the second quarter worth approximately $1,267,000. Amundi grew its stake in Olin by 337.2% in the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company's stock worth $20,336,000 after acquiring an additional 527,586 shares during the period. Engineers Gate Manager LP raised its holdings in Olin by 1,601.5% in the 2nd quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company's stock valued at $4,172,000 after acquiring an additional 198,108 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Olin in the 2nd quarter valued at $1,747,000. Finally, Empowered Funds LLC lifted its stake in shares of Olin by 1,946.0% during the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company's stock worth $12,950,000 after purchasing an additional 414,309 shares during the period. Hedge funds and other institutional investors own 88.67% of the company's stock.

About Olin

Olin Corporation NYSE: OLN is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin's Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.

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.