KeyCorp Increases Olin (NYSE:OLN) Price Target to $50.00


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Olin (NYSE:OLN) had its price objective boosted by KeyCorp from $48.00 to $50.00 in a report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on Olin from $30.00 to $48.00 in a research note on Thursday, April 1st. Citigroup upgraded Olin from a neutral rating to a buy rating and increased their target price for the company from $27.00 to $50.00 in a research note on Thursday, April 15th. Stifel Nicolaus increased their target price on Olin from $35.00 to $46.00 and gave the company a buy rating in a research note on Tuesday, March 16th. Tudor Pickering upgraded Olin from a hold rating to a buy rating and set a $47.00 target price on the stock in a research note on Wednesday, March 24th. Finally, Morgan Stanley increased their target price on Olin from $31.00 to $40.00 and gave the company an equal weight rating in a research note on Thursday, March 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $37.80.

OLN stock opened at $39.53 on Monday. Olin has a fifty-two week low of $9.67 and a fifty-two week high of $43.32. The business’s 50 day moving average price is $37.42 and its two-hundred day moving average price is $27.01. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.02 and a current ratio of 1.60. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of -6.15, a price-to-earnings-growth ratio of 1.19 and a beta of 1.22.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 28th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Olin had a negative return on equity of 9.98% and a negative net margin of 18.47%. Sell-side analysts forecast that Olin will post -2.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Tuesday, March 2nd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 1st. This represents a $0.80 dividend on an annualized basis and a yield of 2.02%. Olin’s dividend payout ratio is presently 133.33%.

Large investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC bought a new stake in Olin during the fourth quarter valued at about $25,000. Charter Oak Capital Management LLC purchased a new position in shares of Olin during the fourth quarter valued at about $35,000. Global Retirement Partners LLC grew its position in shares of Olin by 701.4% during the first quarter. Global Retirement Partners LLC now owns 1,154 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 1,010 shares in the last quarter. CI Investments Inc. purchased a new position in shares of Olin during the fourth quarter valued at about $57,000. Finally, Captrust Financial Advisors grew its position in shares of Olin by 344.8% during the fourth quarter. Captrust Financial Advisors now owns 2,958 shares of the specialty chemicals company’s stock valued at $73,000 after purchasing an additional 2,293 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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Analyst Recommendations for Olin (NYSE:OLN)

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