Olin (NYSE:OLN) Shares Gap Down – Should You Sell?

Olin Co. (NYSE:OLN) shares gapped down prior to trading on Friday . The stock had previously closed at $45.04, but opened at $41.96. Olin shares last traded at $41.76, with a volume of 931,775 shares.

Analysts Set New Price Targets

A number of analysts have recently commented on OLN shares. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research report on Monday, July 29th. UBS Group dropped their target price on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 29th. BMO Capital Markets began coverage on shares of Olin in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their target price on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.40.

Olin Stock Performance

The company has a market cap of $4.90 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The business has a fifty day simple moving average of $44.81 and a two-hundred day simple moving average of $48.33.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $1.13 EPS. Olin’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Olin Co. will post 1.58 EPS for the current year.

Institutional Investors Weigh In On Olin

Hedge funds and other institutional investors have recently modified their holdings of the stock. LRI Investments LLC bought a new stake in shares of Olin during the 1st quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its stake in Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Olin during the 2nd quarter valued at about $33,000. Denver PWM LLC purchased a new position in shares of Olin during the second quarter valued at about $59,000. Finally, Mather Group LLC. increased its holdings in shares of Olin by 1,364.4% in the second quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,187 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.