Olin (NYSE:OLN) Price Target Cut to $22.00 by Analysts at UBS Group

Key Points

• UBS Group has lowered its target price for Olin (NYSE:OLN) from $23.00 to $22.00, maintaining a "neutral" rating, which indicates potential upside of only 1.06% from the stock's previous close.
• Other analysts have also reduced their price targets for Olin, with JPMorgan cutting it to $20.00 and Mizuho to $23.00, while the overall consensus price target now stands at $27.20.
• Olin's recent quarterly earnings showed a reported EPS of $0.04, surpassing analysts' estimates, along with a revenue increase to $1.64 billion.

Olin (NYSE:OLN - Free Report) had its target price trimmed by UBS Group from $23.00 to $22.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company's stock.

A number of other analysts have also recently commented on OLN. Morgan Stanley cut 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. Truist Financial cut their target price on shares of Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their target price on shares of Olin from $28.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Piper Sandler cut their target price 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, The Goldman Sachs Group cut their target price on shares of Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Olin currently has an average rating of "Hold" and an average target price of $25.57.

Olin Stock Down 3.9%

Shares of OLN stock traded down $0.73 during trading hours on Tuesday, hitting $18.21. 3,691,249 shares of the company were exchanged, compared to its average volume of 2,788,110. The business has a 50 day moving average of $20.60 and a two-hundred day moving average of $23.35. The company has a current ratio of 1.48, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Olin has a 52 week low of $17.66 and a 52 week high of $49.60. The company has a market capitalization of $2.09 billion, a PE ratio of -151.75 and a beta of 1.55.

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

Institutional Trading of Olin

Several institutional investors and hedge funds have recently modified their holdings of OLN. Covestor Ltd lifted its stake in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 419 shares in the last quarter. Vestcor Inc raised its holdings in shares of Olin by 4.6% in the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock valued at $306,000 after purchasing an additional 558 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Olin by 160.5% during the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 743 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Olin by 13.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,778 shares of the specialty chemicals company's stock worth $164,000 after purchasing an additional 778 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Olin by 22.0% in the 2nd quarter. Blue Trust Inc. now owns 4,979 shares of the specialty chemicals company's stock worth $100,000 after purchasing an additional 899 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

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.