Olin (NYSE:OLN) Price Target Cut to $25.00 by Analysts at JPMorgan Chase & Co.

Olin (NYSE:OLN) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $26.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.44% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Zacks Research raised shares of Olin from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. Mizuho increased their target price on Olin from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Wall Street Zen raised Olin from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Olin currently has an average rating of “Hold” and a consensus price target of $28.00.

Olin Price Performance

OLN traded down $0.96 during midday trading on Thursday, reaching $22.04. 2,629,806 shares of the company’s stock were exchanged, compared to its average volume of 2,857,255. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82. The stock has a market capitalization of $2.51 billion, a PE ratio of -19.70 and a beta of 1.17. The business’s 50-day moving average price is $26.64 and its 200 day moving average price is $24.72. Olin has a 1-year low of $18.08 and a 1-year high of $30.46.

Hedge Funds Weigh In On Olin

Institutional investors have recently modified their holdings of the company. Strategic Advocates LLC purchased a new position in shares of Olin during the third quarter valued at approximately $25,000. Rockefeller Capital Management L.P. grew its stake in Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Olin in the 1st quarter worth approximately $32,000. Sunbelt Securities Inc. purchased a new stake in Olin in the 1st quarter worth approximately $45,000. Finally, Allworth Financial LP raised its holdings in Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after acquiring an additional 927 shares during the last quarter. Institutional investors and hedge funds 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.