Olin (NYSE:OLN) Raised to "Overweight" at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Olin from "equal weight" to overweight and raised its price target to $35, implying roughly a 22.6% upside from the prior close.
• Analyst views remain mixed — MarketBeat shows a consensus rating of "Hold" with an average target of $24.53, and several firms have recently cut targets or downgraded the stock.
• Olin reported Q4 EPS of ($0.58) (in line with estimates) on $1.67B in revenue, carries a negative P/E with a ~$3.25B market cap, and insiders sold about $2.24M of stock in the past three months.

Olin (NYSE:OLN - Get Free Report) was upgraded by analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a $35.00 price objective on the specialty chemicals company's stock, up from their previous price objective of $25.00. Wells Fargo & Company's price objective would suggest a potential upside of 22.63% from the company's previous close.

Other equities research analysts have also issued reports about the company. Mizuho raised their price objective on Olin from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 31st. Wall Street Zen lowered shares of Olin from a "hold" rating to a "sell" rating in a research report on Saturday, January 10th. UBS Group set a $21.00 price target on shares of Olin in a report on Monday, February 2nd. Zacks Research downgraded shares of Olin from a "hold" rating to a "strong sell" rating in a research report on Thursday, January 29th. Finally, BMO Capital Markets dropped their price objective on shares of Olin from $25.00 to $24.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Olin has an average rating of "Hold" and a consensus target price of $24.53.

Olin Price Performance

OLN opened at $28.54 on Monday. The firm has a market capitalization of $3.25 billion, a P/E ratio of -75.11 and a beta of 1.37. The stock has a fifty day moving average of $25.15 and a 200-day moving average of $23.13. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. Olin has a 12-month low of $17.66 and a 12-month high of $30.46.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.58). The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.Olin's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Insider Transactions at Olin

In related news, VP R Nichole Sumner sold 4,750 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total value of $106,827.50. Following the transaction, the vice president owned 24,771 shares in the company, valued at approximately $557,099.79. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Angela M. Castle sold 2,379 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president owned 1,528 shares in the company, valued at $37,054. This represents a 60.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 99,379 shares of company stock valued at $2,238,298 in the last three months. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of Olin

Several large investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Olin by 5.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company's stock worth $317,135,000 after purchasing an additional 661,730 shares during the last quarter. State Street Corp boosted its holdings in Olin by 1.1% in the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company's stock worth $97,043,000 after purchasing an additional 50,309 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Olin by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,596,499 shares of the specialty chemicals company's stock worth $95,746,000 after purchasing an additional 145,424 shares in the last quarter. Pzena Investment Management LLC increased its position in Olin by 17.5% during the fourth quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company's stock worth $93,900,000 after buying an additional 671,250 shares during the last quarter. Finally, Orbis Allan Gray Ltd increased its position in Olin by 448.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company's stock worth $79,249,000 after buying an additional 3,111,393 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

About Olin

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.

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.