Olin (NYSE:OLN) Price Target Raised to $24.00

Olin (NYSE:OLN) had its price target hoisted by Mizuho from $22.00 to $24.00 in a research report report published on Tuesday, MarketBeat.com reports. Mizuho currently has a neutral rating on the specialty chemicals company’s stock.

Several other research firms also recently weighed in on OLN. KeyCorp dropped their price objective on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Truist Financial dropped their price target on Olin from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $26.00 price objective on shares of Olin in a research report on Tuesday, February 10th. Royal Bank Of Canada dropped their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded shares of Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.20.

Olin Stock Performance

NYSE:OLN opened at $24.27 on Tuesday. The firm’s fifty day simple moving average is $22.79 and its 200-day simple moving average is $22.44. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.46. The stock has a market cap of $2.77 billion, a PE ratio of -63.86 and a beta of 1.64. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $27.98.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Analysts expect that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Activity at Olin

In related news, VP R Nichole Sumner sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president owned 24,771 shares in the company, valued at approximately $557,099.79. This trade represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Teresa M. Vermillion sold 4,500 shares of Olin stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the completion of the sale, the vice president directly owned 17,199 shares of the company’s stock, valued at $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 101,500 shares of company stock valued at $2,274,478. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Advocates LLC purchased a new position in shares of Olin during the 3rd quarter worth about $25,000. Evelyn Partners Investment Management LLP raised its stake 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 worth $32,000 after purchasing an additional 1,590 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin in the 1st quarter valued at $32,000. Bessemer Group Inc. boosted its holdings in shares of Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP grew 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 valued at $43,000 after buying an additional 927 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.