Olin (OLN) Stock Rating Reaffirmed by Royal Bank of Canada
Olin (NYSE:OLN)‘s stock had its “buy” rating reissued by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday. They currently have a $42.00 price objective on the specialty chemicals company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 24.00% from the company’s previous close.
Other analysts have also recently issued reports about the company. TheStreet upgraded Olin from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. SunTrust Banks restated a “buy” rating and issued a $46.00 target price on shares of Olin in a research report on Monday, November 6th. Citigroup initiated coverage on Olin in a research report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 target price on the stock. BidaskClub upgraded Olin from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Zacks Investment Research upgraded Olin from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $38.00.
Olin (NYSE OLN) opened at $33.87 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.72. The company has a market capitalization of $5,609.26, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 3.75 and a beta of 1.39. Olin has a 12-month low of $25.05 and a 12-month high of $37.52.
Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Olin had a return on equity of 6.05% and a net margin of 1.29%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities analysts expect that Olin will post 0.93 EPS for the current year.
In other news, VP Dolores J. Ennico sold 15,000 shares of Olin stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total transaction of $552,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director C Robert Bunch sold 10,000 shares of Olin stock in a transaction on Monday, November 6th. The shares were sold at an average price of $36.00, for a total value of $360,000.00. Following the transaction, the director now owns 3,860 shares in the company, valued at $138,960. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,083 shares of company stock worth $2,741,284. 2.90% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of OLN. Renaissance Technologies LLC acquired a new position in shares of Olin during the 1st quarter valued at $805,000. Great West Life Assurance Co. Can boosted its stake in shares of Olin by 19.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 117,446 shares of the specialty chemicals company’s stock worth $3,555,000 after acquiring an additional 19,325 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Olin by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 69,900 shares of the specialty chemicals company’s stock worth $2,117,000 after acquiring an additional 1,100 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Olin by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,355 shares of the specialty chemicals company’s stock worth $404,000 after acquiring an additional 453 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in shares of Olin during the 2nd quarter worth $995,000. Institutional investors own 89.70% of the company’s stock.
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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.
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