Olin Corp. (OLN) Reaches New 12-Month High at $26.27
Olin Corp. (NYSE:OLN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.27 and last traded at $26.17, with a volume of 982,521 shares changing hands. The stock had previously closed at $25.98.
Several brokerages have recently issued reports on OLN. Nomura Holdings Inc. restated a “buy” rating on shares of Olin Corp. in a report on Tuesday, July 12th. Zacks Investment Research upgraded Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, July 6th. Cowen and Company upgraded Olin Corp. from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $31.00 in a report on Tuesday, June 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $28.00 target price (up from $25.00) on shares of Olin Corp. in a report on Monday, June 13th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Olin Corp. in a report on Sunday, April 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Olin Corp. currently has an average rating of “Buy” and an average target price of $24.71.
The company has a 50 day moving average of $24.23 and a 200 day moving average of $19.17. The firm’s market capitalization is $4.35 billion.
Olin Corp. (NYSE:OLN) last posted its earnings results on Monday, May 2nd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.22 by $0.45. During the same period in the previous year, the firm posted $0.26 earnings per share. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.43 billion. Equities analysts expect that Olin Corp. will post $1.20 EPS for the current year.
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three 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, hydrogen, bleach products and potassium hydroxide.
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