Olin (NYSE:OLN) Upgraded by Wall Street Zen to "Hold" Rating

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

A number of other analysts have also recently weighed in on the stock. Truist Financial reduced their price objective on shares of Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Mizuho set a $23.00 price target on shares of Olin in a report on Tuesday, April 15th. Wells Fargo & Company upped their target price on shares of Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Morgan Stanley lowered their target price on shares of Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a report on Monday, May 12th. Finally, Piper Sandler decreased their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Olin has an average rating of "Hold" and a consensus target price of $27.80.

Olin Price Performance

Shares of OLN stock opened at $20.36 on Friday. Olin has a 1-year low of $17.66 and a 1-year high of $51.16. The firm has a fifty day moving average of $20.77 and a two-hundred day moving average of $27.20. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The firm has a market cap of $2.34 billion, a P/E ratio of 22.62 and a beta of 1.53.

Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. As a group, research analysts anticipate that Olin will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olin

Large investors have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in shares of Olin by 8.0% in the fourth quarter. Empowered Funds LLC now owns 22,131 shares of the specialty chemicals company's stock worth $748,000 after purchasing an additional 1,633 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Olin during the fourth quarter worth about $328,000. Rhumbline Advisers grew its position in shares of Olin by 1.6% during the fourth quarter. Rhumbline Advisers now owns 324,696 shares of the specialty chemicals company's stock worth $10,975,000 after purchasing an additional 5,093 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Olin by 14.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,312 shares of the specialty chemicals company's stock valued at $1,734,000 after buying an additional 6,617 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in Olin during the fourth quarter valued at approximately $660,000. 88.67% of the stock is currently owned by institutional investors.

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.

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