Olin (NYSE:OLN) Price Target Cut to $63.00

Olin (NYSE:OLN - Get Free Report) had its price target dropped by analysts at Royal Bank of Canada from $69.00 to $63.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. Royal Bank of Canada's price objective suggests a potential upside of 17.67% from the stock's current price.

A number of other research analysts also recently commented on OLN. Piper Sandler increased their target price on Olin from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday. KeyCorp lowered their target price on Olin from $78.00 to $73.00 and set an "overweight" rating for the company in a research report on Monday. Barclays increased their target price on Olin from $57.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. Wells Fargo & Company raised their price target on Olin from $56.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group raised their price target on Olin from $55.00 to $61.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Olin presently has an average rating of "Hold" and an average price target of $60.00.

Olin Price Performance

OLN traded up $0.06 during trading on Monday, reaching $53.54. 1,378,119 shares of the company traded hands, compared to its average volume of 1,033,109. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. Olin has a 12-month low of $41.71 and a 12-month high of $60.60. The firm has a fifty day simple moving average of $55.63 and a 200 day simple moving average of $51.67. The company has a market cap of $6.41 billion, a P/E ratio of 19.25, a PEG ratio of 0.29 and a beta of 1.44.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.47%. The company's revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. On average, equities analysts forecast that Olin will post 3.73 EPS for the current year.

Insider Activity

In other news, CFO Todd A. Slater sold 63,250 shares of the firm's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the transaction, the chief financial officer now owns 137,517 shares in the company, valued at $7,446,545.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Olin news, VP Valerie A. Peters sold 71,800 shares of Olin stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the transaction, the vice president now owns 19,469 shares in the company, valued at $1,022,511.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the transaction, the chief financial officer now owns 137,517 shares in the company, valued at approximately $7,446,545.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 753,274 shares of company stock worth $40,434,124. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Partners boosted its holdings in Olin by 122.8% in the fourth quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company's stock worth $271,152,000 after acquiring an additional 2,772,274 shares in the last quarter. Norges Bank acquired a new stake in Olin in the fourth quarter worth about $76,125,000. Balyasny Asset Management L.P. boosted its holdings in Olin by 218.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company's stock worth $88,978,000 after acquiring an additional 1,131,674 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Olin by 15.6% in the third quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company's stock worth $146,974,000 after acquiring an additional 397,050 shares in the last quarter. Finally, Luminus Management LLC boosted its holdings in Olin by 119.6% in the third quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company's stock worth $26,227,000 after acquiring an additional 285,789 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Company Profile

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.