Olin (NYSE:OLN) Price Target Lowered to $23.00 at Mizuho

Key Points

• Mizuho has lowered Olin's price target from $24.00 to $23.00, maintaining a "neutral" rating, which suggests a potential upside of 10.47% from its previous close.
• Analysts have mixed ratings on Olin, with two sell ratings, eleven hold ratings, and three buy ratings; the consensus target price is $27.27.
• Olin's stock performance indicates a 12-month low of $17.66 and a high of $49.60, with the company reporting $1.64 billion in quarterly revenue.

Olin (NYSE:OLN - Get Free Report) had its target price dropped by analysts at Mizuho from $24.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. Mizuho's target price would indicate a potential upside of 19.11% from the stock's current price.

Several other research firms have also commented on OLN. Royal Bank Of Canada decreased their price objective on shares of Olin from $25.00 to $23.00 and set a "sector perform" rating for the company in a research note on Thursday, July 3rd. Wells Fargo & Company raised their price target on shares of Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Wall Street Zen lowered shares of Olin from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Piper Sandler decreased their price target on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley decreased their price target on shares of Olin from $28.00 to $20.00 and set an "underweight" rating for the company in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Olin presently has a consensus rating of "Hold" and an average target price of $25.57.

Olin Trading Down 11.8%

NYSE OLN traded down $2.58 on Tuesday, reaching $19.31. The company had a trading volume of 4,811,216 shares, compared to its average volume of 2,508,629. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -160.92 and a beta of 1.52. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $49.60. The business has a 50 day moving average of $20.64 and a two-hundred day moving average of $23.56. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.48 and a quick ratio of 0.96.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The business's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. Analysts forecast that Olin will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OLN. HighTower Advisors LLC increased its holdings in Olin by 44.4% during the fourth quarter. HighTower Advisors LLC now owns 12,006 shares of the specialty chemicals company's stock valued at $406,000 after buying an additional 3,692 shares during the last quarter. LPL Financial LLC increased its holdings in Olin by 218.9% during the fourth quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock valued at $4,681,000 after buying an additional 95,054 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Olin by 41.6% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 81,062 shares of the specialty chemicals company's stock valued at $2,740,000 after buying an additional 23,829 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Olin by 18.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,225 shares of the specialty chemicals company's stock valued at $428,000 after buying an additional 2,082 shares during the last quarter. Finally, Norges Bank purchased a new stake in Olin during the fourth quarter valued at approximately $47,887,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

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.