Olin (NYSE:OLN) PT Lowered to $45.00

Olin (NYSE:OLN) had its price objective lowered by equities research analysts at Barclays from $49.00 to $45.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price indicates a potential upside of 7.14% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Royal Bank of Canada decreased their price target on shares of Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Monday, July 29th. KeyCorp reduced their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group reduced their target price on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Olin presently has an average rating of “Hold” and a consensus target price of $52.07.

Olin Trading Up 1.4 %

Shares of Olin stock traded up $0.57 during trading hours on Monday, reaching $42.00. 342,057 shares of the company’s stock were exchanged, compared to its average volume of 1,156,027. Olin has a 52-week low of $39.47 and a 52-week high of $60.60. The company has a fifty day moving average of $44.78 and a 200-day moving average of $48.13. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Olin (NYSE:OLN) last released its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. Sell-side analysts forecast that Olin will post 1.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Olin

A number of hedge funds have recently added to or reduced their stakes in OLN. LRI Investments LLC acquired a new stake in shares of Olin during the first quarter worth $28,000. EverSource Wealth Advisors LLC raised its stake in Olin by 4,375.0% during the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 525 shares during the period. nVerses Capital LLC bought a new position in Olin in the second quarter worth about $33,000. Denver PWM LLC acquired a new position in Olin in the second quarter valued at approximately $59,000. Finally, Mather Group LLC. grew its holdings in shares of Olin by 1,364.4% during the second quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 1,187 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.