Olin (NYSE:OLN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Olin's stock has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' perceptions of the company's performance.
• Wells Fargo & Company recently lowered its price target on Olin shares from $22.00 to $21.00, while other brokerages have made similar adjustments, leading to a consensus rating of "Hold" with an average target price of $25.57.
• Despite a revenue increase of 7.0% year-over-year, Olin reported a disappointing earnings per share (EPS) of $0.05, missing analyst estimates of $0.09 for the last quarter.

Wall Street Zen upgraded shares of Olin (NYSE:OLN - Free Report) from a sell rating to a hold rating in a research report released on Saturday.

A number of other analysts also recently issued reports on the stock. Mizuho lowered their price objective on shares of Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. JPMorgan Chase & Co. lowered their price objective on shares of Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Royal Bank Of Canada lowered their price objective on shares of Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a report on Thursday, July 3rd. The Goldman Sachs Group lowered their target price on shares of Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays lowered their target price on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $25.57.

Olin Trading Up 2.4%

Olin stock traded up $0.45 during midday trading on Friday, hitting $19.01. 3,146,972 shares of the stock were exchanged, compared to its average volume of 2,059,136. The company has a fifty day simple moving average of $20.60 and a two-hundred day simple moving average of $23.20. Olin has a 52 week low of $17.66 and a 52 week high of $49.60. The stock has a market capitalization of $2.18 billion, a PE ratio of -158.42 and a beta of 1.55. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $0.62 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently bought and sold shares of OLN. Fuller & Thaler Asset Management Inc. raised its holdings in Olin by 40.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock valued at $154,766,000 after buying an additional 1,840,900 shares during the last quarter. Norges Bank acquired a new stake in Olin during the 4th quarter valued at approximately $47,887,000. Hotchkis & Wiley Capital Management LLC increased its position in Olin by 11.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock valued at $295,514,000 after purchasing an additional 1,259,795 shares during the period. Dimensional Fund Advisors LP increased its position in Olin by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock valued at $110,204,000 after purchasing an additional 569,483 shares during the period. Finally, AQR Capital Management LLC increased its position in Olin by 52.5% during the 1st quarter. AQR Capital Management LLC now owns 1,288,202 shares of the specialty chemicals company's stock valued at $31,226,000 after purchasing an additional 443,210 shares during the period. 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.