Olin Co. (NYSE:OLN) Receives $57.80 Average PT from Brokerages

Olin Co. (NYSE:OLN) has earned an average recommendation of “Buy” from the eighteen analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $57.80.

A number of research firms recently issued reports on OLN. Barclays upped their target price on Olin from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 5th. TheStreet raised Olin from a “c” rating to a “b-” rating in a research note on Monday, August 2nd. Morgan Stanley increased their price target on Olin from $46.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, July 30th. Piper Sandler started coverage on Olin in a research note on Monday, September 13th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Bank of America raised Olin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $58.00 in a research note on Friday, July 16th.

OLN opened at $49.44 on Monday. The stock has a market capitalization of $7.93 billion, a P/E ratio of -41.20, a price-to-earnings-growth ratio of 0.13 and a beta of 1.37. Olin has a one year low of $16.03 and a one year high of $52.01. The business’s 50-day simple moving average is $48.16 and its 200-day simple moving average is $45.88. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.10 and a current ratio of 1.65.

Olin (NYSE:OLN) last issued its quarterly earnings results on Monday, July 26th. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.77. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Olin had a positive return on equity of 28.77% and a negative net margin of 2.36%. The firm’s revenue for the quarter was up 79.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) EPS. On average, equities research analysts forecast that Olin will post 7.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.62%. Olin’s payout ratio is -59.26%.

In related news, COO James A. Varilek sold 34,728 shares of the stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $51.22, for a total value of $1,778,768.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott D. Ferguson sold 3,000,000 shares of the stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $49.45, for a total value of $148,350,000.00. The disclosure for this sale can be found here. Corporate insiders own 11.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new stake in shares of Olin during the second quarter valued at about $33,000. Strategic Blueprint LLC acquired a new stake in shares of Olin during the second quarter valued at about $33,000. Eaton Vance Management acquired a new stake in shares of Olin during the first quarter valued at about $35,000. Lazard Asset Management LLC acquired a new stake in shares of Olin during the first quarter valued at about $37,000. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Olin during the third quarter valued at about $47,000. Institutional investors own 84.82% of the company’s stock.

Olin Company Profile

Olin Corp. engages in manufacturing of chemicals products. It operates through the following 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.

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Analyst Recommendations for Olin (NYSE:OLN)

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