Olin (NYSE:OLN) Given New $21.00 Price Target at UBS Group

Key Points

• UBS Group cut Olin’s price target from $23 to $21 while maintaining a “neutral” rating, implying approximately 12.87% upside from the stock’s $18.61 price.
• Analyst sentiment remains cautious, with Olin holding a consensus “Hold” rating and an average price target of $24.69; coverage includes nine Holds and four Sell ratings.
• Olin shares rose 0.5% to $18.61, near their 52-week low of $17.73, while institutional investors own a substantial 88.67% of the company.

Olin (NYSE:OLN - Get Free Report) had its target price cut by research analysts at UBS Group from $23.00 to $21.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price objective would indicate a potential upside of 12.87% from the stock's current price.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Olin from $31.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Olin in a research report on Friday, May 22nd. Mizuho boosted their price target on shares of Olin from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday. Royal Bank Of Canada reduced their price objective on shares of Olin from $24.00 to $20.00 and set a "sector perform" rating for the company in a research note on Monday. Finally, Morgan Stanley lifted their target price on Olin from $18.00 to $22.00 and gave the company an "underweight" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Olin currently has a consensus rating of "Hold" and a consensus price target of $24.69.

Olin Stock Up 0.5%

Shares of OLN stock traded up $0.10 on Monday, hitting $18.61. 3,699,229 shares of the stock were exchanged, compared to its average volume of 3,009,282. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $2.12 billion, a P/E ratio of -15.04 and a beta of 1.21. Olin has a fifty-two week low of $17.73 and a fifty-two week high of $30.46. The business has a 50-day moving average of $22.72 and a 200 day moving average of $24.76.

Institutional Investors Weigh In On Olin

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its stake in shares of Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the 1st quarter valued at about $32,000. Sunbelt Securities Inc. bought a new position in Olin in the 1st quarter valued at about $45,000. UMB Bank n.a. lifted its position in Olin by 34.0% during the fourth quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company's stock worth $54,000 after acquiring an additional 659 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company's stock worth $58,000 after acquiring an additional 721 shares during the period. Institutional investors own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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