Citigroup Cuts Olin (NYSE:OLN) Price Target to $21.00

Olin (NYSE:OLN) had its price objective dropped by equities research analysts at Citigroup from $24.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target would indicate a potential downside of 8.30% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on OLN. Wall Street Zen downgraded shares of Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Truist Financial cut their target price on Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday. Zacks Research downgraded shares of Olin from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Royal Bank Of Canada dropped their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, Wells Fargo & Company cut their price target on Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus target price of $22.86.

Olin Trading Up 3.3%

OLN stock traded up $0.73 during midday trading on Tuesday, hitting $22.90. The stock had a trading volume of 986,250 shares, compared to its average volume of 3,365,965. The company’s 50-day moving average price is $21.77 and its 200 day moving average price is $22.06. The firm has a market cap of $2.61 billion, a PE ratio of -60.32, a price-to-earnings-growth ratio of 3.08 and a beta of 1.64. Olin has a 12-month low of $17.66 and a 12-month high of $28.77. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. On average, equities research analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Olin

In related news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total transaction of $93,870.00. Following the completion of the transaction, the vice president owned 17,199 shares in the company, valued at approximately $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Olin

Large investors have recently bought and sold shares of the business. Strategic Advocates LLC bought a new stake in shares of Olin during the third quarter worth $25,000. Evelyn Partners Investment Management LLP boosted its position in Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin during the 1st quarter worth approximately $32,000. Bessemer Group Inc. increased its holdings in Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 927 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.