Olin (NYSE:OLN – Get Free Report) had its price objective boosted by stock analysts at Citigroup from $17.00 to $19.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup‘s price target would indicate a potential upside of 5.74% from the company’s previous close.
OLN has been the subject of a number of other research reports. Wells Fargo & Company dropped their price target on shares of Olin from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, October 1st. Wall Street Zen upgraded shares of Olin from a “strong sell” rating to a “sell” rating in a research note on Saturday. Barclays began coverage on shares of Olin in a report on Monday, October 12th. They set an “equal weight” rating and a $18.00 price objective for the company. The Goldman Sachs Group set a $18.00 target price on shares of Olin in a research report on Wednesday, September 30th. Finally, KeyCorp assumed coverage on shares of Olin in a research report on Friday, September 11th. They set an “overweight” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $20.57.
Read Our Latest Analysis on OLN
Olin Stock Up 2.1%
NYSE OLN traded up $0.37 during mid-day trading on Monday, reaching $17.97. 2,565,477 shares of the company’s stock traded hands, compared to its average volume of 3,170,651. Olin has a 1-year low of $14.64 and a 1-year high of $30.46. The company has a fifty day simple moving average of $16.44 and a 200-day simple moving average of $22.28. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 1.75. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -12.23 and a beta of 1.14.
Olin (NYSE:OLN – Get Free Report) last announced its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.83 billion. Olin had a negative net margin of 2.49% and a negative return on equity of 6.63%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, equities research analysts expect that Olin will post -0.80 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in OLN. Oregon Public Employees Retirement Fund boosted its stake in shares of Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock worth $693,000 after acquiring an additional 500 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in Olin by 2.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock valued at $928,000 after purchasing an additional 609 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Olin by 115.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 659 shares in the last quarter. Cowa LLC boosted its position in shares of Olin by 8.1% in the third quarter. Cowa LLC now owns 11,919 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 890 shares during the period. Finally, ARGA Investment Management LP boosted its position in shares of Olin by 2.5% in the first quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company’s stock worth $1,823,000 after buying an additional 1,502 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.
About Olin
Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.
Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.
Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.
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