Olin (NYSE:OLN) Stock Price Target Raised at Truist Financial

by · The Markets Daily

Olin (NYSE:OLN – Get Free Report) had its price objective increased by equities research analysts at Truist Financial from $15.00 to $17.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial‘s price objective would suggest a potential downside of 7.31% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Olin from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, August 25th. KeyCorp started coverage on shares of Olin in a report on Friday, September 11th. They issued an “overweight” rating and a $26.00 target price for the company. Mizuho lifted their price target on shares of Olin from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research note on Wednesday, August 19th. Finally, BMO Capital Markets decreased 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. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Olin currently has an average rating of “Reduce” and an average price target of $20.43.

View Our Latest Report on OLN

Olin Price Performance

OLN stock traded up $0.74 on Monday, reaching $18.34. 1,219,677 shares of the company’s stock were exchanged, compared to its average volume of 3,163,186. The stock has a fifty day moving average of $16.44 and a 200-day moving average of $22.28. The firm has a market cap of $2.09 billion, a PE ratio of -12.45 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Olin has a twelve month low of $14.64 and a twelve month high of $30.46.

Olin (NYSE:OLN – Get Free Report) last released its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 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%. Olin’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. As a group, equities analysts predict that Olin will post -0.80 EPS for the current fiscal year.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLN. Oregon Public Employees Retirement Fund grew its position in shares of Olin by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock valued at $693,000 after purchasing an additional 500 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of 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 worth $928,000 after purchasing an additional 609 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares during the last quarter. Cowa LLC lifted its stake in Olin by 8.1% in the 3rd quarter. Cowa LLC now owns 11,919 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 890 shares in the last quarter. Finally, ARGA Investment Management LP lifted its stake in Olin by 2.5% in the 1st quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company’s stock valued at $1,823,000 after buying an additional 1,502 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Company Profile

(Get Free Report)

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.

Featured Articles