Olin (NYSE:OLN) Price Target Cut to $49.00 by Analysts at The Goldman Sachs Group

Olin (NYSE:OLN) had its target price dropped by stock analysts at The Goldman Sachs Group from $55.00 to $49.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 8.84% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus increased their price target on Olin from $68.00 to $69.00 and gave the company a “buy” rating in a report on Monday, April 29th. Bank of America lowered their price objective on shares of Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. KeyCorp lowered their price objective on shares of Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday. Piper Sandler raised their price objective on shares of Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Citigroup raised their price objective on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.64.

Olin Stock Up 1.0 %

NYSE:OLN traded up $0.43 during mid-day trading on Monday, reaching $45.02. The stock had a trading volume of 1,818,040 shares, compared to its average volume of 1,080,538. The business’s 50 day moving average is $49.67 and its 200 day moving average is $52.72. Olin has a fifty-two week low of $41.71 and a fifty-two week high of $60.60. The stock has a market cap of $5.38 billion, a P/E ratio of 16.19, a PEG ratio of 0.32 and a beta of 1.44. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $1.13 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, sell-side analysts predict that Olin will post 3.1 earnings per share for the current year.

Institutional Investors Weigh In On Olin

Several hedge funds have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC lifted its holdings in Olin by 3.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock valued at $356,196,000 after purchasing an additional 203,260 shares during the last quarter. Boston Partners increased its position in Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after buying an additional 384,888 shares during the period. Dimensional Fund Advisors LP increased its position in Olin by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock worth $196,167,000 after buying an additional 126,587 shares during the period. Balyasny Asset Management L.P. increased its position in Olin by 218.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after buying an additional 1,131,674 shares during the period. Finally, Norges Bank bought a new position in Olin during the 4th quarter worth $76,125,000. 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.