Olin (NYSE:OLN) Rating Increased to Buy at ValuEngine

Olin (NYSE:OLN) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday, ValuEngine reports.

Other research analysts have also issued reports about the company. Morgan Stanley lowered Olin from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $33.00 to $23.00 in a report on Friday, July 19th. Bank of America reissued a “buy” rating and set a $22.00 target price (down from $29.00) on shares of Olin in a report on Friday, August 16th. Royal Bank of Canada decreased their target price on Olin to $19.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 10th. Citigroup lowered Olin from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $19.00 in a report on Wednesday. Finally, Barclays decreased their target price on Olin from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.00.

OLN stock opened at $18.98 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $2.88 billion, a PE ratio of 13.09, a PEG ratio of 1.48 and a beta of 1.58. Olin has a 1-year low of $15.38 and a 1-year high of $27.32. The business’s 50 day simple moving average is $17.72 and its 200 day simple moving average is $20.51.

Olin (NYSE:OLN) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.55 billion. Olin had a return on equity of 7.82% and a net margin of 4.06%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. As a group, sell-side analysts predict that Olin will post 1.01 EPS for the current fiscal year.

In other news, Director Scott Mcdougald Sutton purchased 15,000 shares of Olin stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $15.66 per share, for a total transaction of $234,900.00. Following the purchase, the director now directly owns 39,500 shares of the company’s stock, valued at approximately $618,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vince J. Smith purchased 5,000 shares of Olin stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $17.00 per share, with a total value of $85,000.00. Following the completion of the purchase, the director now directly owns 37,304 shares in the company, valued at $634,168. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,080 shares of company stock worth $372,710 over the last three months. 1.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLN. FMR LLC boosted its stake in Olin by 99.8% in the 1st quarter. FMR LLC now owns 24,733,170 shares of the specialty chemicals company’s stock valued at $572,325,000 after purchasing an additional 12,354,303 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Olin by 1,275.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,440,543 shares of the specialty chemicals company’s stock valued at $184,932,000 after acquiring an additional 7,826,890 shares during the period. Balyasny Asset Management LLC lifted its position in shares of Olin by 343.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,754,345 shares of the specialty chemicals company’s stock valued at $38,438,000 after acquiring an additional 1,358,351 shares during the period. W.E. Donoghue & Co. LLC bought a new stake in shares of Olin during the 2nd quarter valued at $7,006,000. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in shares of Olin during the 2nd quarter valued at $6,531,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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Analyst Recommendations for Olin (NYSE:OLN)

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