Olin (NYSE:OLN) Price Target Raised to $25.00

Key Points

• Wells Fargo raised Olin's price target from $21 to $25, maintaining an "equal weight" rating, indicating about a 2.5% potential upside from the current stock price.
• Analysts overall have mixed opinions on Olin, with one rating it as a strong buy, two as buys, eleven as holds, and two as sells, giving it a consensus target price of $26.21.
• Olin's most recent quarterly earnings revealed an EPS of $0.05, missing the forecast of $0.09, despite a revenue increase of 7.0% year-over-year.

Olin (NYSE:OLN - Get Free Report) had its target price boosted by stock analysts at Wells Fargo & Company from $21.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the specialty chemicals company's stock. Wells Fargo & Company's target price would indicate a potential upside of 2.50% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Fermium Researc upgraded Olin to a "strong-buy" rating in a research note on Thursday, September 25th. UBS Group boosted their price target on shares of Olin from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday. Citigroup cut Olin from a "buy" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Thursday, October 2nd. KeyCorp cut their price objective on Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Wall Street Zen raised Olin from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.21.

Olin Trading Down 5.9%

NYSE:OLN traded down $1.54 during trading hours on Tuesday, reaching $24.39. 502,942 shares of the company were exchanged, compared to its average volume of 2,155,013. Olin has a 52-week low of $17.66 and a 52-week high of $48.00. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -203.41 and a beta of 1.68. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.48 and a quick ratio of 0.88. The stock has a 50 day simple moving average of $22.83 and a 200 day simple moving average of $21.72.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. Olin's revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. As a group, analysts predict that Olin will post 1.38 EPS for the current year.

Insider Buying and Selling at Olin

In related news, VP Teresa M. Vermillion sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total value of $126,660.00. Following the completion of the sale, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. The trade was a 25.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently bought and sold shares of OLN. GAMMA Investing LLC lifted its stake in shares of Olin by 2,268.4% in the first quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company's stock valued at $650,000 after buying an additional 25,701 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Olin by 36.8% in the first quarter. Wedge Capital Management L L P NC now owns 80,901 shares of the specialty chemicals company's stock valued at $1,961,000 after acquiring an additional 21,767 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in Olin by 48.3% during the 1st quarter. First Citizens Bank & Trust Co. now owns 10,278 shares of the specialty chemicals company's stock worth $249,000 after acquiring an additional 3,348 shares during the last quarter. Farther Finance Advisors LLC raised its position in Olin by 183.8% in the 1st quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock valued at $63,000 after purchasing an additional 1,713 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Olin by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 248,466 shares of the specialty chemicals company's stock worth $6,023,000 after purchasing an additional 105,404 shares during the last quarter. 88.67% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.