Olin (NYSE:OLN) Stock Rating Lowered by Morgan Stanley

Olin (NYSE:OLN) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Friday, MarketBeat reports. They currently have a $23.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $33.00. Morgan Stanley’s target price suggests a potential upside of 8.75% from the company’s current price.

Other analysts have also recently issued research reports about the company. Alembic Global Advisors set a $95.00 price objective on Celanese and gave the stock a “sell” rating in a research report on Monday, April 22nd. Royal Bank of Canada dropped their price objective on Olin to $19.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 10th. Nomura cut Infosys from a “neutral” rating to a “reduce” rating in a research report on Monday, April 15th. Cowen reiterated a “buy” rating and set a $6.50 price objective on shares of Daseke in a research report on Monday, May 6th. Finally, ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $27.83.

Olin stock opened at $21.15 on Friday. The stock has a market cap of $3.49 billion, a PE ratio of 11.19, a PEG ratio of 0.72 and a beta of 1.54. The stock’s 50-day moving average is $21.51. Olin has a 52 week low of $17.87 and a 52 week high of $32.00. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 1.08.



Olin (NYSE:OLN) last posted its quarterly earnings data on Tuesday, April 30th. The specialty chemicals company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Olin had a return on equity of 11.12% and a net margin of 5.14%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. Equities research analysts predict that Olin will post 1.41 EPS for the current fiscal year.

In other news, EVP John L. Mcintosh sold 10,500 shares of Olin stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $21.74, for a total value of $228,270.00. Following the transaction, the executive vice president now directly owns 100,812 shares of the company’s stock, valued at approximately $2,191,652.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Mcdougald Sutton acquired 8,000 shares of Olin stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $20.71 per share, for a total transaction of $165,680.00. Following the completion of the purchase, the director now directly owns 30,000 shares in the company, valued at $621,300. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of Olin by 1.8% in the 1st quarter. SG Americas Securities LLC now owns 26,162 shares of the specialty chemicals company’s stock valued at $605,000 after purchasing an additional 472 shares in the last quarter. Boston Partners lifted its position in Olin by 2.4% during the 1st quarter. Boston Partners now owns 23,008 shares of the specialty chemicals company’s stock worth $532,000 after acquiring an additional 543 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Olin by 2.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,220 shares of the specialty chemicals company’s stock worth $509,000 after acquiring an additional 545 shares in the last quarter. Oakbrook Investments LLC lifted its position in Olin by 3.5% during the 1st quarter. Oakbrook Investments LLC now owns 17,600 shares of the specialty chemicals company’s stock worth $407,000 after acquiring an additional 600 shares in the last quarter. Finally, CWM LLC lifted its position in Olin by 1,219.7% during the 1st quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock worth $39,000 after acquiring an additional 1,549 shares in the last quarter. 91.79% of the stock is currently owned by institutional investors and hedge funds.

About Olin

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.

See Also: Analyst Ratings Trading

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.