Olin (NYSE:OLN) Given “Neutral” Rating at Citigroup

Olin (NYSE:OLN)‘s stock had its “neutral” rating reaffirmed by Citigroup in a report issued on Tuesday, Benzinga reports. They presently have a $19.00 price target on the specialty chemicals company’s stock. Citigroup’s price objective indicates a potential upside of 11.18% from the company’s current price.

Several other analysts have also weighed in on the stock. KeyCorp initiated coverage on shares of Olin in a research note on Friday. They issued an “overweight” rating and a $26.00 price objective for the company. Mizuho increased their price objective on shares of Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. The Goldman Sachs Group decreased their target price on Olin from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on Olin from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. cut their target price on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.77.

Olin Price Performance

OLN traded up $0.21 on Tuesday, reaching $17.09. The stock had a trading volume of 842,904 shares, compared to its average volume of 2,958,449. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. Olin has a fifty-two week low of $16.68 and a fifty-two week high of $30.46. The firm has a 50-day moving average of $19.46 and a 200-day moving average of $23.46. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -13.90 and a beta of 1.20.

Olin (NYSE:OLN) last released its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.25). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. Olin’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. As a group, sell-side analysts anticipate that Olin will post -0.68 EPS for the current year.

Institutional Investors Weigh In On Olin

A number of hedge funds and other institutional investors have recently bought and sold shares of OLN. Tidal Investments LLC raised its stake in shares of Olin by 16.7% during the 2nd quarter. Tidal Investments LLC now owns 50,158 shares of the specialty chemicals company’s stock valued at $994,000 after purchasing an additional 7,175 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Olin during the second quarter valued at about $1,747,000. Engineers Gate Manager LP lifted its holdings in shares of Olin by 1,601.5% in the second quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company’s stock worth $4,172,000 after buying an additional 198,108 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Olin in the second quarter valued at approximately $205,000. Finally, IFP Advisors Inc grew its position in shares of Olin by 118.9% during the 2nd quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock valued at $63,000 after purchasing an additional 1,718 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin’s Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.