Olin (NYSE:OLN) Price Target Cut to $21.00 by Analysts 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 target price lowered by Wells Fargo & Company from $22.00 to $21.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company's stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley lowered their price objective on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Wall Street Zen cut Olin from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Barclays decreased their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their price target on Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Finally, Mizuho decreased their price target on Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.57.

Olin Trading Down 3.9%

OLN opened at $18.21 on Wednesday. The company's 50 day moving average is $20.60 and its 200-day moving average is $23.20. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. The company has a market cap of $2.09 billion, a P/E ratio of -151.75 and a beta of 1.55. Olin has a 1-year low of $17.66 and a 1-year high of $49.60.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Fifth Third Bancorp grew its position in Olin by 160.5% during the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Olin during the first quarter valued at approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin during the first quarter valued at approximately $32,000. UMB Bank n.a. boosted its stake 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 purchasing an additional 997 shares during the period. Finally, Allworth Financial LP boosted its stake 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 valued at $37,000 after purchasing an additional 1,095 shares during the period. 88.67% of the stock is currently owned by institutional investors.

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.