Saturday, October 24, 2020

BofA Securities lifts Olin Corporation [OLN] price estimate. Who else is bullish?

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Olin Corporation [NYSE: OLN] closed the trading session at $11.38 on 09/11/20. The day’s price range saw the stock hit a low of $11.12, while the highest price level was $11.47. The company report on August 5, 2020 that Olin Announces Second Quarter 2020 Results.

Olin Corporation (NYSE: OLN) announced financial results for the second quarter ended June 30, 2020.

The second quarter 2020 reported net loss was $120.1 million, or $0.76 per diluted share, which compares to the second quarter 2019 reported net loss of $20.0 million, or $0.12 per diluted share. Second quarter 2020 adjusted EBITDA of $71.5 million excludes depreciation and amortization expense of $136.5 million, information technology integration costs of $20.4 million, and restructuring charges and other costs of $5.5 million. Second quarter 2019 adjusted EBITDA was $204.6 million. Sales in the second quarter 2020 were $1,241.2 million compared to $1,592.9 million in the second quarter 2019.

The stocks have a year to date performance of -34.03 percent and weekly performance of -0.61 percent. The stock has been moved at 9.85 percent over the last six months. The stock has performed -1.39 percent around the most recent 30 days and changed -13.46 percent over the most recent 3-months.

If compared to the average trading volume of 2.74M shares, OLN reached to a volume of 2600138 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Olin Corporation [OLN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OLN shares is $12.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OLN stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Olin Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 10, 2020. The new note on the price target was released on May 01, 2020, representing the official price target for Olin Corporation stock. On March 26, 2020, analysts decreased their price target for OLN shares from 16 to 7.

The Average True Range (ATR) for Olin Corporation is set at 0.60, with the Price to Sales ratio for OLN stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 1.52.

OLN stock trade performance evaluation

Olin Corporation [OLN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.61. With this latest performance, OLN shares dropped by -1.39% in over the last four-week period, additionally plugging by 9.85% over the last 6 months – not to mention a drop of -39.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OLN stock in for the last two-week period is set at 48.28, with the RSI for the last a single of trading hit 48.71, and the three-weeks RSI is set at 49.25 for Olin Corporation [OLN]. The present Moving Average for the last 50 days of trading for this stock 11.43, while it was recorded at 11.62 for the last single week of trading, and 13.69 for the last 200 days.

Olin Corporation [OLN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Olin Corporation [OLN] shares currently have an operating margin of +4.73 and a Gross Margin at +11.49. Olin Corporation’s Net Margin is presently recorded at -0.18.

Return on Total Capital for OLN is now 4.74, given the latest momentum, and Return on Invested Capital for the company is -0.19. Return on Equity for this stock declined to -0.43, with Return on Assets sitting at -0.12. When it comes to the capital structure of this company, Olin Corporation [OLN] has a Total Debt to Total Equity ratio set at 154.02. Additionally, OLN Total Debt to Total Capital is recorded at 60.63, with Total Debt to Total Assets ending up at 40.53. Long-Term Debt to Equity for the company is recorded at 150.66, with the Long-Term Debt to Total Capital now at 59.31.

Reflecting on the efficiency of the workforce at the company, Olin Corporation [OLN] managed to generate an average of -$1,738 per employee. Receivables Turnover for the company is 7.85 with a Total Asset Turnover recorded at a value of 0.67.Olin Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for Olin Corporation [OLN] stock

With the latest financial reports released by the company, Olin Corporation posted 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.34/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OLN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Olin Corporation go to 2.30%.

Olin Corporation [OLN]: Insider Ownership positions

There are presently around $1,657 million, or 93.30% of OLN stock, in the hands of institutional investors. The top three institutional holders of OLN stocks are: FMR LLC with ownership of 17,147,769, which is approximately -17.284% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 15,686,377 shares of the stock with an approximate value of $178.51 million in OLN stocks shares; and VANGUARD GROUP INC, currently with $171.22 million in OLN stock with ownership of nearly -4.358% of the company’s market capitalization.

Positions in Olin Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 136 institutional holders increased their position in Olin Corporation [NYSE:OLN] by around 13,766,974 shares. Additionally, 153 investors decreased positions by around 17,223,776 shares, while 40 investors held positions by with 114,648,723 shares. The mentioned changes placed institutional holdings at 145,639,473 shares, according to the latest SEC report filing. OLN stock had 50 new institutional investments in for a total of 5,077,347 shares, while 54 institutional investors sold positions of 3,341,385 shares during the same period.

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