Olin Corporation (OLN) is Downgraded by Longbow to Underperform

Olin Corporation (OLN) was Downgraded by Longbow to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Longbow advised their investors in a research report released on Sep 7, 2016.

Many Wall Street Analysts have commented on Olin Corporation. Shares were Reiterated by Cowen on Jul 29, 2016 to “Outperform” and Lowered the Price Target to $ 29 from a previous price target of $31 .Shares were Reiterated by RBC Capital Mkts on Jul 22, 2016 to “Outperform” and Lowered the Price Target to $ 24 from a previous price target of $28 .Company shares were Upgraded by Cowen on Jun 28, 2016 to ” Outperform”, Firm has raised the Price Target to $ 31 from a previous price target of $18 .

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 opened for trading at $21.62 and hit $21.9 on the upside on Thursday, eventually ending the session at $21.72, with a gain of 0.37% or 0.08 points. The heightened volatility saw the trading volume jump to 18,32,174 shares. Company has a market cap of $3,587 M.

In a different news, on Aug 24, 2016, John L Mcintosh (EVP, Chemicals & Ammunition) sold 10,000 shares at $21.59 per share price. According to the SEC, on Mar 3, 2016, Randall W Larrimore (director) purchased 1,600 shares at $15.45 per share price. On Feb 19, 2016, Joseph D Rupp (CEO) purchased 70,000 shares at $14.26 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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