Olin (NYSE:OLN) Price Target Cut to $31.00 by Analysts at KeyCorp

Key Points

• KeyCorp has reduced its price target for Olin (NYSE:OLN) from $32.00 to $31.00, maintaining an "overweight" rating, indicating a potential upside of 50.12% from the stock's previous close.
• Several other firms have also downgraded their ratings and price targets for Olin, with Goldman Sachs lowering its target to $25.00 and Mizuho setting it at $23.00.
• Olin reported a quarterly earnings miss with an EPS of $0.05, below the consensus estimate of $0.09, despite a revenue increase of 7.0% year-over-year.

Olin (NYSE:OLN - Free Report) had its target price decreased by KeyCorp from $32.00 to $31.00 in a research note published on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the specialty chemicals company's stock.

OLN has been the topic of a number of other reports. Citigroup decreased their price objective on shares of Olin from $26.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. UBS Group decreased their price objective on shares of Olin from $23.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. Royal Bank Of Canada decreased their price objective on shares of Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 3rd. The Goldman Sachs Group decreased their price objective on shares of Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Finally, Barclays decreased their price objective on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.57.

Olin Stock Performance

OLN stock traded down $0.73 during mid-day trading on Wednesday, hitting $18.21. 3,691,249 shares of the company were exchanged, compared to its average volume of 2,972,674. The business has a 50 day simple moving average of $20.60 and a 200-day simple moving average of $23.20. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $2.09 billion, a PE ratio of -151.75 and a beta of 1.55. Olin has a 1-year low of $17.66 and a 1-year high of $49.60.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The firm's quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Olin will post 1.38 earnings per share for the current year.

Hedge Funds Weigh In On Olin

Several institutional investors have recently made changes to their positions in OLN. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Olin by 40.5% in 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. Norges Bank acquired a new stake in shares of Olin in the 4th quarter worth about $47,887,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Olin by 11.5% in 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. Dimensional Fund Advisors LP raised its holdings in shares of Olin by 14.3% in 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, AQR Capital Management LLC raised its holdings in shares of Olin by 52.5% in the 1st quarter. AQR Capital Management LLC now owns 1,288,202 shares of the specialty chemicals company's stock worth $31,226,000 after acquiring an additional 443,210 shares during the last quarter. Institutional investors and hedge funds 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.