Olin (NYSE:OLN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Olin (NYSE:OLN) from a sell rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

Several other equities research analysts have also commented on OLN. Wells Fargo & Company upped their price target on shares of Olin from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Tuesday, November 3rd. KeyCorp initiated coverage on shares of Olin in a research report on Friday, September 11th. They issued an “overweight” rating and a $26.00 price objective for the company. Royal Bank Of Canada increased their target price on shares of Olin from $16.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Monday, November 2nd. Citigroup lifted their price target on Olin from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Finally, Barclays initiated coverage on Olin in a report on Monday, October 12th. They issued an “equal weight” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $20.64.

Olin Trading Down 0.4%

Shares of NYSE OLN opened at $17.48 on Friday. The business’s 50 day moving average price is $16.47 and its 200 day moving average price is $22.07. Olin has a 52 week low of $14.64 and a 52 week high of $30.46. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 1.75.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.83 billion. Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. Olin’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. On average, equities analysts predict that Olin will post -0.83 EPS for the current fiscal year.

Institutional Trading of Olin

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in Olin during the second quarter worth $23,785,000. Dimensional Fund Advisors LP lifted its position in shares of Olin by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock worth $167,311,000 after purchasing an additional 1,031,498 shares during the last quarter. Amundi lifted its holdings in Olin by 337.2% during the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after buying an additional 527,586 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Olin during the first quarter worth approximately $14,770,000. Finally, Empowered Funds LLC lifted its position in shares of Olin by 1,946.0% during the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company’s stock worth $12,950,000 after buying an additional 414,309 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation is a chemicals and ammunition manufacturer headquartered in Clayton, Missouri. Its businesses include chlor-alkali products and vinyls, epoxy materials, and Winchester-branded ammunition. Olin’s chemical operations produce chlorine, caustic soda, vinyl chloride and related products, as well as epoxy resins and intermediates. These materials serve customers in industries such as construction, water treatment, manufacturing and transportation. The company traces its origins to 1892, when Franklin W. Olin founded the Equitable Powder Company.