UBS Group Forecasts Strong Price Appreciation for Olin (NYSE:OLN) Stock

Olin (NYSE:OLN - Get Free Report) had its price target raised by investment analysts at UBS Group from $22.00 to $23.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price target points to a potential upside of 5.85% from the company's current price.

A number of other brokerages have also commented on OLN. Wall Street Zen lowered Olin from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Wells Fargo & Company boosted their price target on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Truist Financial cut their price target on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada cut their price target on Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a report on Thursday, July 3rd. Finally, KeyCorp lowered their target price on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $27.40.

Olin Stock Down 2.2%

OLN stock traded down $0.49 during mid-day trading on Wednesday, hitting $21.73. 331,224 shares of the company were exchanged, compared to its average volume of 1,697,071. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 1.56. The firm has a market cap of $2.50 billion, a P/E ratio of 42.73 and a beta of 1.52. The firm's 50 day simple moving average is $20.65 and its 200 day simple moving average is $24.79. Olin has a 1-year low of $17.66 and a 1-year high of $50.75.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly 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. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. On average, sell-side analysts predict that Olin will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Olin

Institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC grew its position in shares of Olin by 11.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock valued at $295,514,000 after purchasing an additional 1,259,795 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Olin by 2.1% in the first quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company's stock valued at $284,786,000 after purchasing an additional 245,604 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Olin by 40.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock valued at $154,766,000 after purchasing an additional 1,840,900 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Olin by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock valued at $110,204,000 after purchasing an additional 569,483 shares during the last quarter. Finally, Yacktman Asset Management LP grew its position in shares of Olin by 3.1% in the first quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock valued at $97,451,000 after purchasing an additional 122,247 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

About Olin

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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