Olin (NYSE:OLN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

According to Zacks, “Earnings estimates for Olin for the fourth quarter and full-year 2018 have been going down lately. Olin is facing certain challenges in its Winchester unit including higher commodity material costs. Moreover, raw material cost inflation and commodity cost headwinds may dent its performance. The company’s high debt level is another concern. Olin has also underperformed the industry it belongs to in a year’s time.”

Several other equities analysts have also recently weighed in on OLN. TheStreet cut shares of Olin from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. SunTrust Banks decreased their target price on shares of Olin to $35.00 and set an “in-line” rating for the company in a research note on Wednesday, October 31st. They noted that the move was a valuation call. ValuEngine raised shares of Olin from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 13th. Barclays decreased their target price on shares of Olin from $29.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 31st. Finally, Nomura decreased their target price on shares of Olin from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, October 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $32.00.

NYSE OLN opened at $22.89 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.13 and a current ratio of 1.81. Olin has a 12-month low of $17.87 and a 12-month high of $38.75. The company has a market capitalization of $3.71 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 0.28 and a beta of 1.52.

Olin (NYSE:OLN) last posted its quarterly earnings data on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.09). Olin had a net margin of 11.02% and a return on equity of 10.70%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business earned $0.31 earnings per share. Olin’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts predict that Olin will post 1.88 EPS for the current fiscal year.

In related news, Director Scott Mcdougald Sutton acquired 15,000 shares of Olin stock in a transaction on Thursday, November 1st. The stock was purchased at an average cost of $21.62 per share, with a total value of $324,300.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $324,300. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John Maurice Sampson acquired 5,000 shares of Olin stock in a transaction on Tuesday, November 20th. The shares were bought at an average cost of $19.84 per share, with a total value of $99,200.00. The disclosure for this purchase can be found here. Insiders purchased 21,800 shares of company stock valued at $460,844 over the last three months. 1.70% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. IMS Capital Management bought a new position in Olin during the third quarter worth $88,000. Baird Financial Group Inc. bought a new position in Olin during the second quarter worth $204,000. MML Investors Services LLC bought a new position in Olin during the third quarter worth $210,000. Acadian Asset Management LLC bought a new position in Olin during the third quarter worth $236,000. Finally, MAI Capital Management bought a new position in Olin during the second quarter worth $240,000. 86.92% of the stock is owned by hedge funds and other institutional investors.

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, and potassium hydroxide.

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Analyst Recommendations for Olin (NYSE:OLN)

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