Olin (NYSE:OLN) Price Target Lowered to $24.00 at Truist Financial

Olin (NYSE:OLN - Get Free Report) had its price objective decreased by Truist Financial from $25.00 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the specialty chemicals company's stock. Truist Financial's price objective suggests a potential upside of 12.57% from the stock's current price.

A number of other equities research analysts also recently commented on the stock. UBS Group lifted their price target on shares of Olin from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Barclays reduced their target price on Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. cut Olin from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $50.00 to $28.00 in a report on Thursday, February 27th. KeyCorp cut their price objective on shares of Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Mizuho set a $23.00 target price on shares of Olin in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.60.

Olin Price Performance

NYSE OLN traded down $0.09 during trading hours on Monday, reaching $21.32. The company's stock had a trading volume of 1,214,392 shares, compared to its average volume of 1,582,365. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The company's 50-day moving average is $22.47 and its two-hundred day moving average is $30.81. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The stock has a market cap of $2.45 billion, a PE ratio of 23.69 and a beta of 1.56.

Olin (NYSE:OLN - Get Free Report) last announced its earnings results 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 return on equity of 5.10% and a net margin of 1.66%. The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. Olin's quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that Olin will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Olin in the first quarter valued at about $31,000. Covestor Ltd grew 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 purchasing an additional 419 shares in the last quarter. Spire Wealth Management increased its stake in shares of Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 1,150 shares during the last quarter. Finally, Allworth Financial LP lifted its position in shares of Olin by 188.5% during the first 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 during the last quarter. 88.67% of the stock is 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.