Olin (NYSE:OLN) Stock Gets Price Target Trim from Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Olin’s price target from $20 to $16 while maintaining a “sector perform” rating, implying roughly 9.1% upside from the stock’s $14.66 price.
• Analyst sentiment remains cautious: Olin has an average “Reduce” rating and a consensus price target of $20.43, with 12 Hold, three Sell, and one Buy ratings.
• Olin’s latest quarter fell short of expectations, reporting a $0.12-per-share loss versus an anticipated $0.13 profit and revenue of $1.74 billion versus an $1.81 billion estimate.

Olin (NYSE:OLN - Get Free Report) had its target price cut by stock analysts at Royal Bank Of Canada from $20.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 9.10% from the stock's current price.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Olin in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Olin from $30.00 to $20.00 and set a "hold" rating on the stock in a research report on Tuesday, August 25th. Wells Fargo & Company decreased their price objective on shares of Olin from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 1st. UBS Group lowered their price objective on shares of Olin from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Finally, JPMorgan Chase & Co. cut their target price on Olin from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Olin currently has an average rating of "Reduce" and a consensus price target of $20.43.

Olin Price Performance

OLN stock traded down $0.04 during midday trading on Tuesday, reaching $14.66. The company had a trading volume of 184,013 shares, compared to its average volume of 3,086,907. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -11.93 and a beta of 1.23. The stock has a 50 day moving average price of $17.28 and a 200-day moving average price of $22.25. Olin has a 1-year low of $14.65 and a 1-year high of $30.46. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87.

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 for the quarter, missing the consensus estimate of $0.13 by ($0.25). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) EPS. Equities research analysts expect that Olin will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OLN. Amundi lifted its stake in shares of Olin by 337.2% in the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company's stock worth $20,336,000 after acquiring an additional 527,586 shares during the period. Engineers Gate Manager LP increased its position in Olin by 1,601.5% during the 2nd quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company's stock valued at $4,172,000 after purchasing an additional 198,108 shares during the period. WINTON GROUP Ltd acquired a new stake in Olin during the 2nd quarter valued at approximately $1,747,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Olin during the 2nd quarter worth approximately $1,267,000. Finally, Empowered Funds LLC raised its holdings in Olin by 1,946.0% during the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company's stock worth $12,950,000 after purchasing an additional 414,309 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin's Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.

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