Olin (NYSE:OLN) Price Target Cut to $44.00 by Analysts at Wells Fargo & Company

Olin (NYSE:OLN) had its price objective decreased by stock analysts at Wells Fargo & Company from $48.00 to $44.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 6.05% from the stock’s previous close.

OLN has been the subject of a number of other research reports. BMO Capital Markets initiated coverage on shares of Olin in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Monday, July 29th. KeyCorp dropped their price target on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday. Barclays dropped their target price on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $62.00 to $51.00 in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.80.

Olin Price Performance

Shares of NYSE OLN traded up $0.06 during trading on Monday, reaching $41.49. The company had a trading volume of 541,337 shares, compared to its average volume of 1,156,985. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. Olin has a 52 week low of $39.47 and a 52 week high of $60.60. The business’s 50 day moving average price is $44.78 and its 200-day moving average price is $48.08. The stock has a market cap of $4.95 billion, a PE ratio of 14.94, a PEG ratio of 1.12 and a beta of 1.41.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. 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 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. Analysts expect that Olin will post 1.58 earnings per share for the current year.

Institutional Investors Weigh In On Olin

Several hedge funds and other institutional investors have recently modified their holdings of OLN. Boston Partners increased its stake in Olin by 7.7% in the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after purchasing an additional 384,888 shares during the period. Dimensional Fund Advisors LP raised its holdings in Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after buying an additional 194,755 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Olin by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock valued at $64,761,000 after buying an additional 33,143 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Olin by 2.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock valued at $50,907,000 after buying an additional 25,163 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Olin by 4.8% during the 1st quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after acquiring an additional 35,637 shares during the last quarter. 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.