Truist Financial Increases Olin (NYSE:OLN) Price Target to $26.00

Key Points

• Truist Financial raised its price target on Olin to $26 from $20, while keeping a hold rating on the stock.
• The new target implies a 7.83% downside from Olin’s previous close, even after the stock rose to $28.21 on Monday.
• Analyst sentiment remains mixed: Olin’s average rating is Hold, with a consensus price target of $27.50 based on MarketBeat data.

Olin (NYSE:OLN - Get Free Report) had its target price hoisted by stock analysts at Truist Financial from $20.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "hold" rating on the specialty chemicals company's stock. Truist Financial's price objective suggests a potential downside of 7.83% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Mizuho raised their price target on shares of Olin from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 31st. KeyCorp decreased their price target on shares of Olin from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Olin from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Wells Fargo & Company restated an "overweight" rating and set a $37.00 price target on shares of Olin in a research note on Sunday. Finally, Citigroup raised their price objective on shares of Olin from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Olin has an average rating of "Hold" and an average price target of $27.50.

Olin Stock Performance

Shares of OLN stock traded up $1.37 during trading hours on Monday, hitting $28.21. 393,538 shares of the company were exchanged, compared to its average volume of 2,988,271. The firm has a fifty day simple moving average of $26.79 and a 200 day simple moving average of $23.68. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -25.16 and a beta of 1.21.

Insider Buying and Selling

In related news, VP Angela M. Castle sold 2,379 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president directly owned 1,528 shares of the company's stock, valued at approximately $37,054. This trade represents a 60.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC boosted its holdings in Olin by 5.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company's stock valued at $317,135,000 after purchasing an additional 661,730 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company's stock valued at $167,311,000 after purchasing an additional 1,031,498 shares during the period. State Street Corp boosted its holdings in Olin by 1.1% in the 2nd quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company's stock valued at $97,043,000 after purchasing an additional 50,309 shares during the period. Pzena Investment Management LLC boosted its holdings in Olin by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company's stock valued at $93,900,000 after purchasing an additional 671,250 shares during the period. Finally, Orbis Allan Gray Ltd boosted its holdings in Olin by 448.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company's stock valued at $79,249,000 after purchasing an additional 3,111,393 shares during the period. 88.67% of the stock is owned by institutional investors.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.