Olin (NYSE:OLN) Price Target Lowered to $21.00 at Citigroup

Olin (NYSE:OLN) had its price target decreased by analysts at Citigroup from $23.00 to $21.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target would indicate a potential upside of 2.71% from the stock’s current price.

A number of other research analysts have also issued reports on OLN. Wells Fargo & Company lowered their target price on Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Mizuho set a $26.00 target price on Olin in a research report on Friday, October 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a research note on Wednesday, October 8th. UBS Group decreased their price target on shares of Olin from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Finally, Fermium Researc raised shares of Olin to a “strong-buy” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.71.

Olin Stock Performance

NYSE OLN traded up $0.14 during trading hours on Thursday, reaching $20.45. The company’s stock had a trading volume of 1,169,264 shares, compared to its average volume of 2,265,736. The stock has a market cap of $2.33 billion, a PE ratio of 44.46, a PEG ratio of 6.70 and a beta of 1.66. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49. Olin has a 52 week low of $17.66 and a 52 week high of $34.76. The business has a 50-day simple moving average of $21.25 and a 200 day simple moving average of $21.73.

Olin (NYSE:OLN) last announced its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.31. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Olin had a net margin of 0.79% and a return on equity of 3.36%. Olin’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. Equities research analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Teresa M. Vermillion sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total value of $93,870.00. Following the completion of the transaction, the vice president owned 17,199 shares in the company, valued at $358,771.14. This trade represents a 20.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Olin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Advocates LLC bought a new position in shares of Olin during the third quarter worth about $25,000. Evelyn Partners Investment Management LLP grew its position in Olin by 6,360.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the 1st quarter valued at $32,000. Bessemer Group Inc. increased its holdings in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,176 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Olin by 134.9% in the second quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 997 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

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.