Olin Corporation (OLN) Given a $39.00 Price Target by Cowen and Company Analysts

Olin Corporation (NYSE:OLN) has been assigned a $39.00 price target by research analysts at Cowen and Company in a research note issued on Friday, July 28th. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Cowen and Company’s target price indicates a potential upside of 27.58% from the company’s previous close.

Several other equities analysts also recently commented on OLN. Zacks Investment Research upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. Bank of America Corporation started coverage on shares of Olin Corporation in a research note on Monday, May 8th. They issued a “buy” rating and a $40.00 price target on the stock. Tudor Pickering started coverage on shares of Olin Corporation in a research note on Friday, May 12th. They issued a “buy” rating and a $37.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $35.00 price target on shares of Olin Corporation in a research note on Tuesday, May 16th. Finally, BidaskClub upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $32.75.

Olin Corporation (NYSE:OLN) opened at 30.48 on Friday. The company has a 50-day moving average of $30.44 and a 200-day moving average of $30.80. Olin Corporation has a 1-year low of $18.24 and a 1-year high of $33.88. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 118.60 and a beta of 1.43.

Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.15. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Olin Corporation’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts predict that Olin Corporation will post $1.14 earnings per share for the current year.

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In related news, EVP John L. Mcintosh sold 16,070 shares of Olin Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $31.02, for a total value of $498,491.40. Following the completion of the sale, the executive vice president now owns 60,391 shares of the company’s stock, valued at approximately $1,873,328.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John L. Mcintosh sold 24,000 shares of Olin Corporation stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total transaction of $756,960.00. Following the completion of the sale, the executive vice president now directly owns 84,391 shares of the company’s stock, valued at approximately $2,661,692.14. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Bollard Group LLC boosted its position in shares of Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Olin Corporation during the first quarter valued at $118,000. Acrospire Investment Management LLC boosted its position in shares of Olin Corporation by 238.5% in the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $133,000 after buying an additional 3,100 shares during the period. Meadow Creek Investment Management LLC boosted its position in shares of Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares during the period. Finally, Creative Planning boosted its position in shares of Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after buying an additional 2,862 shares during the period. Institutional investors and hedge funds own 93.02% of the company’s stock.

About Olin Corporation

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Analyst Recommendations for Olin Corporation (NYSE:OLN)

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