Olin (NYSE:OLN) Downgraded to Sell Rating by Wall Street Zen

Olin (NYSE:OLN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

OLN has been the subject of a number of other research reports. KeyCorp reduced their target price on shares of Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Truist Financial reduced their target price on shares of Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Morgan Stanley reduced their target price on shares of Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. reduced their target price on shares of Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Finally, Piper Sandler reduced their target price on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Olin has a consensus rating of "Hold" and an average target price of $27.80.

Olin Stock Performance

Shares of NYSE:OLN traded up $0.21 on Friday, hitting $20.43. The company had a trading volume of 1,828,345 shares, compared to its average volume of 1,690,466. Olin has a 1-year low of $17.66 and a 1-year high of $50.75. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 40.07 and a beta of 1.53. The stock has a 50 day moving average price of $20.69 and a 200 day moving average price of $25.66. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a net margin of 0.94% and a return on equity of 3.13%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that Olin will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its holdings in shares of Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 743 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Olin by 218.9% in the fourth quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock worth $4,681,000 after acquiring an additional 95,054 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Olin by 8.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,305,521 shares of the specialty chemicals company's stock worth $44,127,000 after acquiring an additional 97,980 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Olin by 2,268.4% in the first quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company's stock worth $650,000 after acquiring an additional 25,701 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Olin by 149.4% in the first quarter. Blue Trust Inc. now owns 4,080 shares of the specialty chemicals company's stock worth $99,000 after acquiring an additional 2,444 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.