Citi Remains a Hold on Olin (OLN)
Citi analyst Patrick Cunningham maintained a Hold rating on Olin yesterday and set a price target of $21.00. The company’s shares closed yesterday at $20.31.
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Cunningham covers the Basic Materials sector, focusing on stocks such as Linde, LyondellBasell, and Ecolab. According to TipRanks, Cunningham has an average return of -1.0% and a 44.44% success rate on recommended stocks.
In addition to Citi, Olin also received a Hold from RBC Capital’s Arun Viswanathan in a report issued on December 15. However, on the same day, Morgan Stanley maintained a Sell rating on Olin (NYSE: OLN).
Based on Olin’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.71 billion and a net profit of $43 million. In comparison, last year the company earned a revenue of $1.59 billion and had a GAAP net loss of $24.9 million
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OLN in relation to earlier this year. Last month, TERESA M VERMILLION, the VP & Treasurer of OLN sold 4,500.00 shares for a total of $93,825.00.
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