Olin (NYSE:OLN) Stock Rating Upgraded by Fermium Researc

Olin (NYSE:OLN) was upgraded by equities researchers at Fermium Researc to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

OLN has been the subject of a number of other reports. Citigroup reduced their target price on shares of Olin from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 8th. UBS Group reduced their price objective on shares of Olin from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, July 29th. Mizuho reduced their price objective on shares of Olin from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, July 29th. Wells Fargo & Company reduced their price objective on shares of Olin from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 30th. Finally, Barclays reduced their price objective on shares of Olin from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Olin currently has an average rating of “Hold” and a consensus target price of $25.57.

Olin Price Performance

Shares of OLN stock opened at $23.95 on Thursday. Olin has a 12-month low of $17.66 and a 12-month high of $49.60. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -199.54 and a beta of 1.61. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. The firm has a fifty day moving average of $22.33 and a 200-day moving average of $21.73.

Olin (NYSE:OLN) last announced its earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.Olin’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. On average, equities research analysts forecast that Olin will post 1.38 earnings per share for the current year.

Insider Activity

In related news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total transaction of $126,660.00. Following the sale, the vice president owned 17,199 shares in the company, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Several large investors have recently made changes to their positions in OLN. Tidal Investments LLC acquired a new stake in Olin in the fourth quarter valued at approximately $331,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Olin by 11.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,425 shares of the specialty chemicals company’s stock valued at $10,053,000 after buying an additional 29,919 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Olin in the first quarter valued at approximately $267,000. GAMMA Investing LLC boosted its position in Olin by 2,268.4% in the first quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company’s stock valued at $650,000 after buying an additional 25,701 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Olin by 767.4% in the first quarter. Parallel Advisors LLC now owns 4,224 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 3,737 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.