Olin (NYSE:OLN) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised Olin's stock price target from $25.00 to $30.00, indicating a potential upside of 25.49% from the previous close, and maintains a "buy" rating on the stock.
• Olin's earnings missed analysts' expectations for the last quarter, reporting $0.05 earnings per share compared to the consensus estimate of $0.09, but revenue increased by 7% year-over-year.
• Institutional ownership of Olin is high, with 88.67% of the stock held by institutional investors and hedge funds, reflecting strong interest in the company.

Olin (NYSE:OLN - Get Free Report) had its price target upped by stock analysts at Bank of America from $25.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the specialty chemicals company's stock. Bank of America's price objective points to a potential upside of 25.49% from the stock's previous close.

Several other research analysts also recently commented on OLN. Fermium Researc upgraded shares of Olin to a "strong-buy" rating in a report on Thursday, September 25th. KeyCorp dropped their target price on shares of Olin from $32.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Citigroup downgraded shares of Olin from a "buy" rating to a "neutral" rating and set a $25.00 target price on the stock. in a report on Thursday, October 2nd. UBS Group lifted their target price on shares of Olin from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Olin in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $25.50.

Olin Stock Up 7.3%

Olin stock opened at $23.91 on Tuesday. The company has a market capitalization of $2.74 billion, a P/E ratio of -199.23 and a beta of 1.68. The firm's fifty day simple moving average is $23.32 and its 200-day simple moving average is $21.70. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. Olin has a 1-year low of $17.66 and a 1-year high of $48.00.

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). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. Sell-side analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total value of $126,660.00. Following the sale, the vice president directly owned 17,199 shares in the company, valued at $363,070.89. This trade represents a 25.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Olin

Several institutional investors have recently made changes to their positions in OLN. Fifth Third Bancorp boosted its position in shares of Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Olin during the 1st quarter valued at about $31,000. Evelyn Partners Investment Management LLP boosted its position in shares of Olin by 6,360.0% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin during the 1st quarter valued at about $32,000. Finally, UMB Bank n.a. boosted its position in shares of Olin by 134.9% during the 2nd quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company's stock valued at $35,000 after acquiring an additional 997 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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