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

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 price objective cut by research analysts at Mizuho from $24.00 to $23.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. Mizuho's price target would indicate a potential upside of 26.30% from the company's previous close.

Several other research analysts have also weighed in on the company. Citigroup dropped their target price on Olin from $26.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 8th. Piper Sandler decreased their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company raised their target price on Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. KeyCorp cut their price target on Olin from $34.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Finally, Truist Financial cut 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $25.57.

Olin Stock Down 3.9%

NYSE:OLN traded down $0.73 during trading hours on Tuesday, hitting $18.21. 3,691,249 shares of the company's stock traded hands, compared to its average volume of 2,788,110. The firm has a market cap of $2.09 billion, a P/E ratio of -151.75 and a beta of 1.55. Olin has a twelve month low of $17.66 and a twelve month high of $49.60. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 1.48. The stock's fifty day moving average price is $20.60 and its two-hundred day moving average price is $23.35.

Olin (NYSE:OLN - Get Free Report) last issued its 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). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the firm earned $0.62 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts expect that Olin will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olin

A number of hedge funds and other institutional investors have recently bought and sold shares of OLN. Hotchkis & Wiley Capital Management LLC boosted its position in Olin by 11.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock worth $295,514,000 after acquiring an additional 1,259,795 shares during the last quarter. Vanguard Group Inc. boosted its position in Olin by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company's stock worth $284,786,000 after acquiring an additional 245,604 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Olin by 40.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock worth $154,766,000 after acquiring an additional 1,840,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Olin by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock worth $110,204,000 after acquiring an additional 569,483 shares during the last quarter. Finally, Yacktman Asset Management LP boosted its position in Olin by 3.1% during the 1st quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock worth $97,451,000 after acquiring an additional 122,247 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

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.