Olin (NYSE:OLN) Shares Gap Down - Should You Sell?

Key Points

• Olin shares fell sharply, opening at $20.48 versus a prior close of $22.17 and later trading near $18.24 on volume of roughly 954,000 shares.
• Analyst sentiment is mixed but leans cautious: Olin has an overall “Hold” consensus with a $26.46 average price target, while recent firms including Mizuho and Goldman Sachs lowered their targets and maintained neutral ratings.
• Institutional investors own 88.67% of Olin’s stock, while the company’s financial profile includes a debt-to-equity ratio of 1.73, a quick ratio below 1, and a negative P/E ratio.

Olin Corporation (NYSE:OLN - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $22.17, but opened at $20.48. Olin shares last traded at $18.2420, with a volume of 953,821 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Mizuho cut their price target on Olin from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. The Goldman Sachs Group lowered their price objective on shares of Olin from $31.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, July 16th. Weiss Ratings restated a "sell (d)" rating on shares of Olin in a report on Friday, May 22nd. Wells Fargo & Company restated an "overweight" rating and set a $37.00 target price on shares of Olin in a research report on Sunday, May 10th. Finally, Wall Street Zen downgraded shares of Olin from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Olin presently has an average rating of "Hold" and a consensus price target of $26.46.

Olin Stock Performance

The company's fifty day moving average price is $22.87 and its two-hundred day moving average price is $24.79. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. The firm has a market capitalization of $2.06 billion, a PE ratio of -16.15 and a beta of 1.21.

Hedge Funds Weigh In On Olin

Large investors have recently bought and sold shares of the stock. Arlington Trust Co LLC acquired a new position in shares of Olin in the 2nd quarter valued at $140,000. Glenmede Trust Co. NA acquired a new stake in shares of Olin during the 1st quarter worth $206,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Olin during the 1st quarter worth $14,770,000. Edgestream Partners L.P. purchased a new position in shares of Olin in the 1st quarter worth $6,894,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of Olin in the 1st quarter worth $45,000. Hedge funds and other 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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