Olin (NYSE:OLN) Lowered to Hold Rating by Wells Fargo & Company

Key Points

• Wells Fargo downgraded Olin from “strong buy” to “hold,” joining several firms that have recently reduced their ratings or price targets.
• Analyst sentiment is broadly cautious: Olin has a consensus rating of “Reduce” and a consensus price target of $23.08, compared with shares opening at $19.06.
• Olin’s stock has a $2.17 billion market capitalization and trades near its 52-week low of $17.73; institutional investors own approximately 88.67% of its shares.

Olin (NYSE:OLN - Get Free Report) was downgraded by equities researchers at Wells Fargo & Company from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on OLN. JPMorgan Chase & Co. reduced their target price on Olin from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, June 18th. Royal Bank Of Canada lowered their price target on shares of Olin from $24.00 to $20.00 and set a "sector perform" rating on the stock in a report on Monday. Morgan Stanley raised their price objective on shares of Olin from $18.00 to $22.00 and gave the company an "underweight" rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Olin from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Finally, Bank of America lowered shares of Olin from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $32.00 to $21.00 in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $23.08.

Olin Price Performance

Shares of NYSE OLN opened at $19.06 on Monday. The stock has a market cap of $2.17 billion, a PE ratio of -15.49 and a beta of 1.22. Olin has a fifty-two week low of $17.73 and a fifty-two week high of $30.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. The stock has a fifty day moving average of $22.43 and a 200-day moving average of $24.69.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new stake in Olin during the second quarter worth about $140,000. Glenmede Trust Co. NA bought a new position in shares of Olin during the 1st quarter valued at about $206,000. Segall Bryant & Hamill LLC bought a new position in shares of Olin during the 1st quarter valued at about $14,770,000. Edgestream Partners L.P. purchased a new position in shares of Olin during the 1st quarter valued at about $6,894,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of Olin during the 1st quarter valued at about $45,000. Institutional investors own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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