Olin (NYSE:OLN – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.
Several other equities research analysts have also commented on OLN. The Goldman Sachs Group cut their price objective on Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Citigroup decreased their price objective on Olin from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company upped their price target on Olin from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. UBS Group upped their price objective on Olin from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on Olin from $28.00 to $20.00 and set an “underweight” rating on the stock in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.80.
View Our Latest Analysis on OLN
Olin Stock Down 3.3%
Olin (NYSE:OLN – Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities research analysts forecast that Olin will post 1.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Olin
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Olin in the first quarter valued at about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin in the first quarter valued at about $32,000. Allworth Financial LP increased its stake in Olin by 188.5% in the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 1,095 shares during the period. Finally, Covestor Ltd boosted its position in Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 419 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.
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