Royal Bank of Canada Cuts Olin (NYSE:OLN) Price Target to $25.00

Olin (NYSE:OLN - Get Free Report) had its price objective reduced by Royal Bank of Canada from $28.00 to $25.00 in a report released on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank of Canada's price objective would indicate a potential upside of 17.04% from the company's current price.

A number of other research analysts have also recently issued reports on OLN. BMO Capital Markets cut their target price on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price target on shares of Olin from $25.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. KeyCorp reduced their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Mizuho set a $23.00 target price on shares of Olin in a report on Tuesday, April 15th. Finally, Piper Sandler decreased their price target on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $30.53.

Olin Stock Performance

OLN traded down $0.84 on Monday, hitting $21.36. The company had a trading volume of 376,667 shares, compared to its average volume of 1,563,735. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 23.71 and a beta of 1.56. Olin has a 1-year low of $17.66 and a 1-year high of $57.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company's fifty day moving average price is $22.86 and its 200 day moving average price is $31.48.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. Olin had a net margin of 1.66% and a return on equity of 5.10%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Olin

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Olin

Several large investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its position in Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Olin during the first quarter worth $31,000. Allworth Financial LP lifted its holdings in Olin by 188.5% during the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock worth $37,000 after purchasing an additional 1,095 shares in the last quarter. Covestor Ltd increased its holdings in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after acquiring an additional 419 shares during the period. Finally, Spire Wealth Management boosted its stake in Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock valued at $55,000 after buying an additional 1,150 shares during the period. 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.

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