Olin (NYSE:OLN) Lowered to Sell Rating by Wall Street Zen

Olin (NYSE:OLN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other analysts have also recently weighed in on the company. Royal Bank Of Canada set a $30.00 price target on Olin and gave the company a “sector perform” rating in a report on Friday, April 10th. Truist Financial boosted their price objective on Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, May 11th. Citigroup upped their price objective on shares of Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Olin has an average rating of “Hold” and an average target price of $28.00.

Olin Price Performance

NYSE:OLN opened at $21.66 on Friday. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The stock has a fifty day moving average of $25.62 and a 200 day moving average of $24.72. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -19.34 and a beta of 1.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Strategic Advocates LLC purchased a new position in shares of Olin during the third quarter worth approximately $25,000. Rockefeller Capital Management L.P. boosted its stake in shares of Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin in the 1st quarter valued at $32,000. Allworth Financial LP grew its holdings in shares of Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Olin during the 1st quarter valued at $45,000. 88.67% of the stock is currently owned by institutional investors.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.