Olin's (OLN) "Neutral" Rating Reaffirmed at Citigroup

Key Points

• Citigroup reaffirmed its “neutral” rating on Olin and maintained a $19 price target, implying approximately 11.2% upside from the previous close.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Hold” rating and an average price target of $21.77, with 11 of 16 analysts recommending Hold.
• Olin’s shares rose 1.2% to $17.09, but the company recently missed quarterly earnings and revenue expectations, reporting a $0.12 per-share loss and $1.74 billion in revenue.

Olin (NYSE:OLN - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at Citigroup in a research report issued on Tuesday, Benzinga reports. They currently have a $19.00 price target on the specialty chemicals company's stock. Citigroup's target price suggests a potential upside of 11.18% from the stock's previous close.

A number of other equities analysts also recently weighed in on the company. Wells Fargo & Company reissued an "equal weight" rating and set a $20.00 price target (down from $25.00) on shares of Olin in a research report on Monday, August 3rd. KeyCorp began coverage on shares of Olin in a research report on Friday. They set an "overweight" rating and a $26.00 price objective for the company. BMO Capital Markets cut 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 note on Monday, July 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Olin from $30.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, August 25th. Finally, UBS Group cut their price objective on shares of Olin from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Olin presently has a consensus rating of "Hold" and an average target price of $21.77.

Olin Stock Up 1.2%

Shares of NYSE:OLN traded up $0.21 during trading on Tuesday, hitting $17.09. 842,904 shares of the company were exchanged, compared to its average volume of 2,958,449. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -13.90 and a beta of 1.20. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. Olin has a fifty-two week low of $16.68 and a fifty-two week high of $30.46. The firm has a fifty day moving average price of $19.46 and a two-hundred day moving average price of $23.46.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates 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 firm 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) earnings per share. Olin's quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts anticipate that Olin will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OLN. Values First Advisors Inc. grew its stake in Olin by 3.4% during the first quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company's stock worth $384,000 after buying an additional 425 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Olin by 10.6% during the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company's stock worth $108,000 after acquiring an additional 497 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company's stock worth $693,000 after acquiring an additional 500 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in Olin by 2.0% in the first quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company's stock valued at $928,000 after acquiring an additional 609 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 659 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

About Olin

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin's Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.

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