KeyCorp Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN - Get Free Report) had its price target cut by investment analysts at KeyCorp from $34.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the specialty chemicals company's stock. KeyCorp's target price indicates a potential upside of 53.85% from the stock's previous close.

A number of other research firms have also recently weighed in on OLN. Wells Fargo & Company upped their price target on Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. UBS Group upped their price target on Olin from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Truist Financial decreased their price target on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a report on Monday, May 5th. The Goldman Sachs Group decreased their price target on Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, Wall Street Zen cut Olin from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.33.

Olin Trading Up 1.7%

OLN traded up $0.35 on Monday, reaching $20.80. 646,790 shares of the company's stock were exchanged, compared to its average volume of 1,737,185. The company's 50 day moving average is $20.71 and its 200-day moving average is $24.34. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 40.78 and a beta of 1.52. Olin has a twelve month low of $17.66 and a twelve month high of $50.75. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 1.56.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. Olin had a net margin of 0.94% and a return on equity of 3.13%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. Equities analysts predict that Olin will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Olin during the 2nd quarter valued at approximately $315,000. GAMMA Investing LLC raised its position in shares of Olin by 274.5% during the 2nd quarter. GAMMA Investing LLC now owns 4,146 shares of the specialty chemicals company's stock valued at $83,000 after acquiring an additional 3,039 shares in the last quarter. UMB Bank n.a. raised its position in shares of Olin by 134.9% during the 2nd quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company's stock valued at $35,000 after acquiring an additional 997 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Olin by 9.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,054 shares of the specialty chemicals company's stock valued at $374,000 after acquiring an additional 1,415 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Olin by 17.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 291,539 shares of the specialty chemicals company's stock valued at $5,857,000 after acquiring an additional 43,073 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

About Olin

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.