Olin Corp. (OLN) Sees Strong Trading Volume
Olin Corp. (NYSE:OLN) shares saw strong trading volume on Monday . 2,986,918 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 3,349,689 shares.The stock last traded at $20.76 and had previously closed at $20.64.
A number of equities research analysts have recently issued reports on the stock. RBC Capital Markets restated a “buy” rating and issued a $24.00 target price (down previously from $28.00) on shares of Olin Corp. in a research note on Friday. Royal Bank Of Canada cut their target price on shares of Olin Corp. from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday. Nomura Holdings Inc. restated a “buy” rating on shares of Olin Corp. in a research note on Tuesday, July 12th. Zacks Investment Research upgraded shares of Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, July 6th. Finally, Cowen and Company upgraded shares of Olin Corp. from a “market perform” rating to an “outperform” rating and upped their target price for the company from $18.00 to $31.00 in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $24.13.
The firm’s 50 day moving average price is $24.29 and its 200 day moving average price is $19.36. The firm’s market capitalization is $3.44 billion.
Olin Corp. (NYSE:OLN) last posted its earnings results on Monday, May 2nd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.45. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the business earned $0.26 earnings per share. On average, analysts expect that Olin Corp. will post $1.20 earnings per share 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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