Olin Corporation (OLN) is Upgraded by Cowen to Outperform, Raises Price Target to $ 31

Olin Corporation (OLN) was Upgraded by Cowen to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 31 from a previous price target of $18 . Earlier the firm had a rating of “Market Perform ” on the company shares. Cowen advised their investors in a research report released on Jun 28, 2016.

Many Wall Street Analysts have commented on Olin Corporation. Company shares were Reiterated by RBC Capital Mkts on Jun 13, 2016 to “Outperform”, Firm has raised the Price Target to $ 28 from a previous price target of $25 .Company shares were Reiterated by Nomura on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $20 .Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $22 .

On the company’s financial health, Olin Corporation reported $0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Nov 2, 2015. Analyst had a consensus of $0.31. The company had revenue of $533.60 million for the quarter, compared to analysts expectations of $573.06 million. The company’s revenue was down -10.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Olin Corporation closed down -1.42 points or -6.18% at $21.56 with 36,23,210 shares getting traded on Monday. Post opening the session at $22.56, the shares hit an intraday low of $21.47 and an intraday high of $22.81 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 3, 2016, Randall W Larrimore (director) purchased 1,600 shares at $15.45 per share price. According to the SEC, on Feb 19, 2016, Joseph D Rupp (CEO) purchased 70,000 shares at $14.26 per share price. On Feb 18, 2016, Stephen C Curley (VP & Treasurer) purchased 5,000 shares at $13.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda hydrochloric acid hydrogen bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda bleach products potassium hydroxide and hydrochloric acid. Winchester products segments include sporting ammunition reloading components small caliber military ammunition and components and industrial cartridges. The Company’s subsidiary Olin Canada ULC operates one chlor alkali facility in Becancour Canada which sells chlor alkali-related products within Canada and to the United States and also sells and distributes ammunition within Canada. Its subsidiary Winchester Australia Limited loads and packs sporting and industrial ammunition in Australia.

Olin Corporation

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