Olin Corporation (NYSE:OLN) Stock Has Consensus Price Target of $20.64

Shares of Olin Corporation (NYSE:OLN) have been assigned an average rating of “Reduce” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.64.

A number of brokerages have recently weighed in on OLN. Wells Fargo & Company raised their price objective on Olin from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a research report on Wednesday, August 19th. Citigroup raised their price objective on Olin from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Truist Financial raised their price target on Olin from $15.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, November 2nd. Finally, Royal Bank Of Canada boosted their target price on Olin from $16.00 to $19.00 and gave the company a “sector perform” rating in a research report on Monday, November 2nd.

Olin Price Performance

NYSE OLN opened at $17.48 on Wednesday. The company has a 50-day moving average price of $16.47 and a 200-day moving average price of $22.07. Olin has a 52 week low of $14.64 and a 52 week high of $30.46. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $1.99 billion, a P/E ratio of -11.89 and a beta of 1.14.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business posted $0.37 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Olin will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently made changes to their positions in OLN. Public Sector Pension Investment Board bought a new stake in shares of Olin in the 3rd quarter valued at about $681,000. Fifth Third Bancorp grew its position in shares of Olin by 9.2% in the 3rd quarter. Fifth Third Bancorp now owns 101,189 shares of the specialty chemicals company’s stock worth $1,568,000 after buying an additional 8,484 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Olin during the 3rd quarter worth approximately $577,000. 180 Wealth Advisors LLC bought a new position in shares of Olin during the 3rd quarter worth approximately $179,000. Finally, Cowa LLC raised its stake in shares of Olin by 8.1% during the 3rd quarter. Cowa LLC now owns 11,919 shares of the specialty chemicals company’s stock worth $185,000 after acquiring an additional 890 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Company Profile

Olin Corporation is a chemicals and ammunition manufacturer headquartered in Clayton, Missouri. Its businesses include chlor-alkali products and vinyls, epoxy materials, and Winchester-branded ammunition. Olin’s chemical operations produce chlorine, caustic soda, vinyl chloride and related products, as well as epoxy resins and intermediates. These materials serve customers in industries such as construction, water treatment, manufacturing and transportation. The company traces its origins to 1892, when Franklin W. Olin founded the Equitable Powder Company.