SunTrust Banks Reiterates Buy Rating for Olin (OLN)

Olin (NYSE:OLN)‘s stock had its “buy” rating reaffirmed by equities researchers at SunTrust Banks in a report released on Tuesday. SunTrust Banks also issued estimates for Olin’s Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.98 EPS and Q4 2019 earnings at $1.00 EPS.

A number of other analysts have also recently issued reports on OLN. Citigroup set a $40.00 price objective on Olin and gave the company a “buy” rating in a research report on Monday. Nomura cut their price objective on Olin from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Zacks Investment Research cut Olin from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Cowen reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Olin in a research report on Friday, February 9th. Finally, Morgan Stanley set a $41.00 price objective on Olin and gave the company a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $39.80.

Shares of Olin (NYSE OLN) opened at $32.72 on Tuesday. Olin has a 52-week low of $27.79 and a 52-week high of $38.84. The stock has a market capitalization of $5,392.32, a P/E ratio of 37.97, a PEG ratio of 1.03 and a beta of 1.36. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.78 and a quick ratio of 1.07.

Olin (NYSE:OLN) last released its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $2.45. Olin had a return on equity of 6.02% and a net margin of 8.77%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue was up 16.9% on a year-over-year basis. sell-side analysts anticipate that Olin will post 2.27 EPS for the current year.

In other news, Director Randall W. Larrimore bought 800 shares of the stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $31.28 per share, for a total transaction of $25,024.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in OLN. Bessemer Group Inc. increased its stake in shares of Olin by 971.4% during the fourth quarter. Bessemer Group Inc. now owns 4,725 shares of the specialty chemicals company’s stock worth $168,000 after purchasing an additional 4,284 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Olin during the 4th quarter worth $178,000. Naples Global Advisors LLC bought a new position in Olin during the 4th quarter worth $206,000. Fox Run Management L.L.C. bought a new position in Olin during the 4th quarter worth $210,000. Finally, Neuberger Berman Group LLC bought a new position in Olin during the 3rd quarter worth $216,000. Institutional investors own 90.08% of the company’s stock.

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Olin Company Profile

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.

Analyst Recommendations for Olin (NYSE:OLN)

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