Olin (NYSE:OLN) Price Target Cut to $17.00 by Analysts at Citigroup

Key Points

• Citigroup lowered Olin’s price target from $19 to $17 while maintaining a “neutral” rating, implying about 10% upside from the prior close.
• Analyst sentiment remains cautious: Olin has an average “Reduce” rating and a consensus target price of $21.46, with 11 holds, three sells, and one buy.
• Olin’s shares rose 0.2% to $15.46, near their 52-week low, after the company reported a quarterly EPS loss of $0.12 versus expectations for $0.13 in earnings; revenue also fell short of estimates.

Olin (NYSE:OLN - Get Free Report) had its price objective cut by analysts at Citigroup from $19.00 to $17.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. Citigroup's target price points to a potential upside of 10.00% from the company's previous close.

OLN has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their target price on Olin from $30.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, August 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Olin in a research report on Wednesday, August 19th. UBS Group decreased their target price on Olin from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Mizuho lifted their target price on Olin from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, Bank of America downgraded shares of Olin from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $32.00 to $21.00 in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $21.46.

Olin Stock Up 0.2%

NYSE OLN traded up $0.03 during trading hours on Wednesday, hitting $15.46. The company's stock had a trading volume of 1,481,324 shares, compared to its average volume of 2,943,327. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The company's 50-day simple moving average is $18.37 and its two-hundred day simple moving average is $22.87. The company has a market capitalization of $1.76 billion, a PE ratio of -12.56 and a beta of 1.20. Olin has a 52 week low of $15.38 and a 52 week high of $30.46.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the prior year, the firm earned ($0.01) earnings per share. Olin's revenue was down .9% compared to the same quarter last year. Research analysts anticipate that Olin will post -0.68 EPS for the current fiscal year.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its position in shares of Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 659 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Olin in the first quarter worth $45,000. Nykredit A S purchased a new stake in shares of Olin in the second quarter worth $59,000. Nalls Sherbakoff Group LLC bought a new stake in Olin during the fourth quarter valued at $66,000. Finally, IFP Advisors Inc grew its position in Olin by 118.9% during the second quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 1,718 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin's Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.

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