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

Olin (NYSE:OLN - Get Free Report) had its target price cut by Truist Financial from $25.00 to $24.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "hold" rating on the specialty chemicals company's stock. Truist Financial's target price suggests a potential upside of 15.16% from the company's previous close.

A number of other equities research analysts have also commented on the company. Piper Sandler decreased their price target on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. cut Olin from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $50.00 to $28.00 in a report on Thursday, February 27th. 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. UBS Group raised their price target on Olin from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada cut shares of Olin from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Olin presently has a consensus rating of "Hold" and an average target price of $28.60.

Olin Stock Performance

NYSE OLN traded up $0.45 during trading hours on Monday, hitting $20.84. The company had a trading volume of 107,708 shares, compared to its average volume of 1,572,157. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The firm has a market cap of $2.40 billion, a P/E ratio of 23.16 and a beta of 1.56. The business has a fifty day simple moving average of $22.57 and a 200-day simple moving average of $31.14. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last announced its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. Olin's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts predict that Olin will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Olin

Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in shares of Olin by 37.7% in the third quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock worth $6,042,000 after buying an additional 34,485 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Olin in the 3rd quarter worth about $256,000. Synovus Financial Corp acquired a new position in Olin in the 3rd quarter worth about $253,000. Franklin Resources Inc. boosted its stake in shares of Olin by 19.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company's stock worth $51,015,000 after acquiring an additional 172,768 shares in the last quarter. Finally, First Hawaiian Bank increased its stake in shares of Olin by 9.0% in the fourth quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company's stock worth $732,000 after purchasing an additional 1,785 shares during the period. Institutional investors and hedge funds own 88.67% of the company's stock.

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.