After Forming Bearish Wedge Down, Is Olin Corporation (OLN)’s Near-Term Analysis Negative?

June 20, 2017 - By Stephen Andrade

Investors sentiment decreased to 1 in 2016 Q4. Its down 0.13, from 1.13 in 2016Q3. It is negative, as 29 investors sold Olin Corporation shares while 93 reduced holdings. 47 funds opened positions while 75 raised stakes. 158.89 million shares or 5.82% less from 168.70 million shares in 2016Q3 were reported.
Stifel holds 0.01% or 126,899 shares in its portfolio. Texas Permanent School Fund has invested 0.04% of its portfolio in Olin Corporation (NYSE:OLN). Federated Incorporated Pa owns 0.08% invested in Olin Corporation (NYSE:OLN) for 1.08 million shares. Bowen Hanes Com Inc stated it has 1.15% in Olin Corporation (NYSE:OLN). Bollard Gp Incorporated Limited Liability stated it has 3,161 shares or 0.01% of all its holdings. Prudential has invested 0% in Olin Corporation (NYSE:OLN). Alliancebernstein Limited Partnership reported 320,961 shares stake. New York-based Paradigm Capital Management Incorporated New York has invested 0.06% in Olin Corporation (NYSE:OLN). Deprince Race Zollo Incorporated holds 1.64 million shares. Arizona State Retirement has invested 0.03% in Olin Corporation (NYSE:OLN). 97,087 are owned by Blackrock Lc. Icon Advisers accumulated 42,339 shares. Thrivent Fincl For Lutherans holds 28,310 shares or 0% of its portfolio. Principal Gru Incorporated, Iowa-based fund reported 785,867 shares. Cambridge Rech Advsr Inc has 0.01% invested in Olin Corporation (NYSE:OLN).

Since February 6, 2017, it had 0 insider purchases, and 7 sales for $2.78 million activity. $1.82 million worth of Olin Corporation (NYSE:OLN) was sold by PAIN GEORGE H on Monday, February 6. BUNCH C ROBERT sold $296,500 worth of stock. Curley Stephen C had sold 2,000 shares worth $60,687 on Monday, February 6. $322,642 worth of stock was sold by OKeefe Thomas J on Wednesday, March 1. The insider MCINTOSH JOHN L sold 1,250 shares worth $37,950.

The stock of Olin Corporation (OLN) formed a down wedge with $27.39 target or 8.00 % below today’s $29.77 share price. The 5 months wedge indicates high risk for the $5.00 billion company. If the $27.39 price target is reached, the company will be worth $400.00 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.98% or $0.29 during the last trading session, reaching $29.77. About shares traded. Olin Corporation (NYSE:OLN) has risen 51.90% since June 20, 2016 and is uptrending. It has outperformed by 35.20% the S&P500.

Analysts expect Olin Corporation (NYSE:OLN) to report $0.38 EPS on August, 7.They anticipate $0.14 EPS change or 58.33 % from last quarter’s $0.24 EPS. OLN’s profit would be $63.82 million giving it 19.59 P/E if the $0.38 EPS is correct. After having $0.14 EPS previously, Olin Corporation’s analysts see 171.43 % EPS growth.

Olin Corporation (NYSE:OLN) Ratings Coverage

Among 9 analysts covering Olin Corporation (NYSE:OLN), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Olin Corporation had 24 analyst reports since August 6, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Tuesday, November 3 by UBS. The company was upgraded on Thursday, January 7 by Nomura. The company was maintained on Monday, September 21 by Cowen & Co. The rating was upgraded by Longbow to “Neutral” on Thursday, February 2. The firm has “Outperform” rating by Cowen & Co given on Tuesday, June 28. The firm earned “Outperform” rating on Friday, February 10 by Cowen & Co. The rating was downgraded by Longbow on Wednesday, September 7 to “Underperform”. The firm has “Buy” rating given on Monday, May 8 by Bank of America. The stock of Olin Corporation (NYSE:OLN) has “Outperform” rating given on Friday, July 22 by RBC Capital Markets. Tudor Pickering initiated Olin Corporation (NYSE:OLN) rating on Friday, May 12. Tudor Pickering has “Buy” rating and $37 target.

More news for Olin Corporation (NYSE:OLN) were recently published by: Zacks.com, which released: “Olin Corporation (OLN): Strong Industry, Solid Earnings Estimate Revisions” on June 13, 2017. Streetinsider.com‘s article titled: “Olin Corp. (OLN) Updates 2Q17 Outlook; To Reduce 2Q Adj. EBITDA by ~$45M” and published on June 19, 2017 is yet another important article.

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