Olin Corp. (OLN) Reaches New 1-Year High at $26.27
Olin Corp. (NYSE:OLN)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.27 and last traded at $26.17, with a volume of 982,521 shares. The stock had previously closed at $25.98.
OLN has been the topic of a number of analyst reports. Nomura Holdings Inc. reaffirmed a “buy” rating on shares of Olin Corp. in a report on Tuesday, July 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Olin Corp. in a report on Monday, June 13th. Zacks Investment Research raised Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, July 6th. Cowen and Company raised Olin Corp. from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $31.00 in a report on Tuesday, June 28th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Olin Corp. in a report on Sunday, April 17th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $24.71.
The stock’s 50 day moving average price is $24.41 and its 200-day moving average price is $19.27. The company’s market capitalization is $4.31 billion.
Olin Corp. (NYSE:OLN) last issued its earnings results on Monday, May 2nd. The company reported ($0.23) earnings per share (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 analyst estimates of $1.43 billion. During the same quarter in the previous year, the business posted $0.26 EPS. Analysts anticipate 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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