Olin (OLN) Upgraded to “Buy” at Vertical Research

Olin (NYSE:OLN) was upgraded by stock analysts at Vertical Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, The Fly reports.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Olin from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. SunTrust Banks restated a “buy” rating and set a $46.00 target price on shares of Olin in a report on Monday, November 6th. TheStreet upgraded Olin from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Cowen restated an “outperform” rating and set a $42.00 target price (up from $39.00) on shares of Olin in a report on Tuesday, October 10th. Finally, Royal Bank of Canada restated a “buy” rating and set a $42.00 target price on shares of Olin in a report on Thursday, December 14th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Olin currently has a consensus rating of “Buy” and a consensus price target of $38.00.

Shares of Olin (OLN) opened at $36.62 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.03 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $6,160.00, a PE ratio of 79.61, a P/E/G ratio of 1.11 and a beta of 1.39. Olin has a 52-week low of $25.43 and a 52-week high of $37.52.

Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 6.05% and a net margin of 1.29%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share. analysts predict that Olin will post 0.93 earnings per share for the current fiscal year.

In other news, Director C Robert Bunch sold 10,000 shares of Olin stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $36.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 3,860 shares in the company, valued at approximately $138,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John E. Fischer sold 37,583 shares of Olin stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.80, for a total value of $1,383,054.40. The disclosure for this sale can be found here. Insiders sold a total of 75,083 shares of company stock valued at $2,741,284 in the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in shares of Olin by 19.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 98,986 shares of the specialty chemicals company’s stock worth $3,390,000 after acquiring an additional 15,871 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Olin by 30.9% during the 3rd quarter. Moors & Cabot Inc. now owns 19,865 shares of the specialty chemicals company’s stock worth $678,000 after acquiring an additional 4,688 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Olin by 298.0% during the 3rd quarter. Sterling Capital Management LLC now owns 102,224 shares of the specialty chemicals company’s stock worth $3,501,000 after acquiring an additional 76,540 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Olin during the 3rd quarter worth about $216,000. Finally, California Public Employees Retirement System raised its position in shares of Olin by 3.5% during the 3rd quarter. California Public Employees Retirement System now owns 327,379 shares of the specialty chemicals company’s stock worth $11,213,000 after acquiring an additional 11,042 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

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About Olin

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

The Fly

Analyst Recommendations for Olin (NYSE:OLN)