Olin (NYSE:OLN – Get Free Report) had its target price cut by equities research analysts at Royal Bank Of Canada from $20.00 to $16.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 9.10% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Citigroup decreased their target price on Olin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. BMO Capital Markets dropped their price target on Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, July 6th. Wells Fargo & Company dropped their price target on Olin from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 1st. KeyCorp assumed coverage on Olin in a report on Friday, September 11th. They set an “overweight” rating and a $26.00 price target on the stock. Finally, Barclays assumed coverage on shares of Olin in a research report on Monday. They set an “equal weight” rating and a $18.00 price objective for the company. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $20.43.
Read Our Latest Research Report on Olin
Olin Trading Down 0.3%
Olin (NYSE:OLN – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business posted ($0.01) earnings per share. Equities analysts anticipate that Olin will post -0.68 earnings per share for the current year.
Institutional Trading of Olin
A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Olin by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after acquiring an additional 1,031,498 shares during the period. Bank of New York Mellon Corp increased its position in shares of Olin by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,232,912 shares of the specialty chemicals company’s stock valued at $36,654,000 after purchasing an additional 12,290 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Olin by 80.8% during the first quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company’s stock worth $21,199,000 after acquiring an additional 318,588 shares in the last quarter. Amundi lifted its stake in Olin by 337.2% in the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after purchasing an additional 527,586 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Olin during the first quarter valued at about $14,770,000. 88.67% of the stock is owned by hedge funds and other institutional investors.
Olin Company Profile
Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.
Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.
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