Olin (NYSE:OLN) Earns Sector Weight Rating from Analysts at KeyCorp

Share on StockTwits

KeyCorp initiated coverage on shares of Olin (NYSE:OLN) in a report released on Wednesday, The Fly reports. The firm set a “sector weight” rating on the specialty chemicals company’s stock.

OLN has been the topic of a number of other reports. UBS Group lowered their price objective on shares of Olin from $17.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Barclays reaffirmed a “hold” rating and set a $18.00 price objective on shares of Olin in a research report on Friday, February 7th. ValuEngine raised shares of Olin from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus lowered their price objective on shares of Olin from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Co lowered their price objective on shares of Olin from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, March 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $20.21.

NYSE OLN traded up $1.46 during trading on Wednesday, reaching $11.78. 4,828,002 shares of the company’s stock were exchanged, compared to its average volume of 3,778,589. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. Olin has a fifty-two week low of $8.76 and a fifty-two week high of $25.34. The company’s fifty day simple moving average is $14.92 and its 200-day simple moving average is $17.01. The firm has a market capitalization of $1.63 billion, a PE ratio of -130.87 and a beta of 1.30.

Olin (NYSE:OLN) last posted its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.13. Olin had a negative net margin of 0.18% and a positive return on equity of 3.67%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. Equities analysts forecast that Olin will post -0.27 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. grew its holdings in Olin by 4.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 23,550 shares of the specialty chemicals company’s stock valued at $406,000 after purchasing an additional 1,020 shares during the last quarter. Penserra Capital Management LLC grew its stake in Olin by 19.6% in the 4th quarter. Penserra Capital Management LLC now owns 9,826 shares of the specialty chemicals company’s stock valued at $169,000 after buying an additional 1,612 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in Olin by 0.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 218,620 shares of the specialty chemicals company’s stock valued at $3,771,000 after buying an additional 1,896 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Olin by 3.4% in the 4th quarter. Natixis Advisors L.P. now owns 59,686 shares of the specialty chemicals company’s stock worth $1,030,000 after acquiring an additional 1,972 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Olin by 0.8% in the 3rd quarter. California State Teachers Retirement System now owns 269,181 shares of the specialty chemicals company’s stock worth $5,039,000 after acquiring an additional 2,040 shares during the period. 88.46% of the stock is owned by institutional investors.

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.

Recommended Story: Hold Rating

The Fly

Analyst Recommendations for Olin (NYSE:OLN)

Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.