Analysts Set Olin Co. (NYSE:OLN) Price Target at $56.47

Olin Co. (NYSE:OLN) has received a consensus rating of “Buy” from the eighteen research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $56.47.

A number of equities research analysts have recently commented on OLN shares. Alembic Global Advisors reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Olin in a research report on Monday, August 23rd. Bank of America raised Olin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $58.00 in a research report on Friday, July 16th. Morgan Stanley lifted their price objective on Olin from $46.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, July 30th. Wells Fargo & Company lifted their price objective on Olin from $55.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, June 14th. Finally, KeyCorp lifted their price objective on Olin from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th.

Shares of NYSE OLN traded up $2.33 during trading on Thursday, reaching $49.63. The company had a trading volume of 1,219,678 shares, compared to its average volume of 1,405,232. Olin has a twelve month low of $11.51 and a twelve month high of $52.01. The stock has a market capitalization of $7.96 billion, a PE ratio of -41.27, a price-to-earnings-growth ratio of 0.13 and a beta of 1.37. The stock has a 50-day moving average price of $46.71 and a two-hundred day moving average price of $44.42. The company has a current ratio of 1.65, a quick ratio of 1.10 and a debt-to-equity ratio of 1.63.

Olin (NYSE:OLN) last released its quarterly earnings results on Monday, July 26th. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.77. Olin had a positive return on equity of 28.77% and a negative net margin of 2.36%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the firm posted ($0.76) earnings per share. The business’s revenue for the quarter was up 79.0% compared to the same quarter last year. On average, sell-side analysts predict that Olin will post 7.23 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, August 9th. Olin’s payout ratio is -59.26%.

In other Olin news, COO James A. Varilek sold 34,728 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $51.22, for a total transaction of $1,778,768.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott D. Ferguson sold 3,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $49.45, for a total value of $148,350,000.00. The disclosure for this sale can be found here. 11.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in OLN. Total Clarity Wealth Management Inc. acquired a new stake in Olin during the first quarter valued at approximately $27,000. NEXT Financial Group Inc acquired a new stake in Olin during the second quarter valued at approximately $33,000. Strategic Blueprint LLC acquired a new stake in Olin during the second quarter valued at approximately $33,000. Eaton Vance Management acquired a new stake in Olin during the first quarter valued at approximately $35,000. Finally, Lazard Asset Management LLC acquired a new stake in Olin during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Olin Company Profile

Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

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Analyst Recommendations for Olin (NYSE:OLN)

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