Olin (NYSE:OLN) Given New $21.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its price target for Olin (NYSE:OLN) from $22.00 to $21.00, maintaining an "equal weight" rating which suggests potential upside of 3.60% from the previous close.
• Other analysts have similarly lowered their price targets, with Goldman Sachs adjusting theirs from $33.00 to $25.00, contributing to a consensus rating of "Hold" and an average target price of $25.57 for Olin.
• Olin's latest earnings report revealed a missed EPS estimate, with earnings of $0.05, falling short of the expected $0.09, despite a year-over-year revenue increase of 7.0% to $1.76 billion.

Olin (NYSE:OLN - Free Report) had its price target trimmed by Wells Fargo & Company from $22.00 to $21.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company's stock.

Several other equities analysts have also issued reports on the company. Morgan Stanley reduced their price target on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. The Goldman Sachs Group dropped their price target on Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Royal Bank Of Canada reduced 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. Piper Sandler lowered their price target on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Truist Financial lowered their target price on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $25.57.

Olin Stock Performance

OLN traded down $0.66 during trading on Wednesday, reaching $18.28. 727,922 shares of the company's stock were exchanged, compared to its average volume of 2,021,544. The business has a 50 day moving average price of $20.62 and a 200 day moving average price of $23.45. The company has a quick ratio of 0.96, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $49.60. The company has a market capitalization of $2.11 billion, a P/E ratio of -152.37 and a beta of 1.52.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%. Olin's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Olin in the first quarter worth $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the first quarter worth $32,000. UMB Bank n.a. increased its holdings in shares of Olin by 134.9% during the second quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company's stock valued at $35,000 after acquiring an additional 997 shares in the last quarter. Finally, Allworth Financial LP boosted its position in Olin by 188.5% in 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. Institutional investors 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.