UBS Group Increases Olin (NYSE:OLN) Price Target to $29.00

Key Points

• UBS raised its price target on Olin from $21.00 to $29.00 while maintaining a "neutral" rating, implying roughly a 1.9% upside from the prior close.
• Analysts' consensus remains a Hold with a $25.00 average price target; ratings distribution is 1 Strong Buy, 3 Buy, 10 Hold and 3 Sell.
• Shares traded down 1.7% to $28.46; Olin has a $3.24 billion market cap, a negative PE (-74.88), and last quarter reported EPS of -$0.58 with revenue of $1.67 billion (slightly above estimates).

Olin (NYSE:OLN - Get Free Report) had its price objective increased by equities researchers at UBS Group from $21.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price target points to a potential upside of 1.92% from the stock's previous close.

Several other brokerages have also recently weighed in on OLN. Truist Financial lowered their price target on shares of Olin from $23.00 to $20.00 and set a "hold" rating on the stock in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $26.00 price target on shares of Olin in a research report on Tuesday, February 10th. Mizuho boosted their price objective on shares of Olin from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, March 31st. Wall Street Zen lowered shares of Olin from a "hold" rating to a "sell" rating in a report on Saturday, January 10th. Finally, Citigroup boosted their price objective on shares of Olin from $21.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.00.

Olin Trading Down 1.7%

Shares of OLN stock traded down $0.50 on Thursday, hitting $28.46. 2,781,457 shares of the stock traded hands, compared to its average volume of 3,287,806. The firm's 50-day moving average price is $25.53 and its two-hundred day moving average price is $23.24. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.73 and a current ratio of 1.21. The stock has a market capitalization of $3.24 billion, a PE ratio of -74.88 and a beta of 1.37. Olin has a twelve month low of $18.08 and a twelve month high of $30.46.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting the consensus estimate of ($0.58). The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The company's revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. As a group, analysts anticipate that Olin will post 1.38 EPS for the current year.

Insider Activity at Olin

In related news, VP Angela M. Castle sold 2,379 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the sale, the vice president directly owned 1,528 shares in the company, valued at approximately $37,054. The trade was a 60.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP R Nichole Sumner sold 4,750 shares of the business's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president owned 24,771 shares in the company, valued at $557,099.79. This trade represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 99,379 shares of company stock worth $2,238,298. Company insiders own 1.60% of the company's stock.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Choreo LLC purchased a new stake in shares of Olin during the third quarter worth approximately $726,000. Thrivent Financial for Lutherans increased its stake in shares of Olin by 6.9% during the third quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company's stock worth $40,974,000 after buying an additional 105,484 shares during the period. V. M. Manning & CO. Inc. purchased a new stake in shares of Olin during the second quarter worth approximately $989,000. Invenomic Capital Management LP purchased a new stake in shares of Olin during the third quarter worth approximately $5,761,000. Finally, SG Americas Securities LLC increased its stake in shares of Olin by 142.0% during the fourth quarter. SG Americas Securities LLC now owns 455,757 shares of the specialty chemicals company's stock worth $9,493,000 after buying an additional 267,458 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Company Profile

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.

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