Olin (NYSE:OLN) Price Target Raised to $26.00 at Mizuho

Olin (NYSE:OLN) had its target price raised by analysts at Mizuho from $24.00 to $26.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective suggests a potential downside of 13.49% from the company’s current price.

Several other brokerages have also issued reports on OLN. UBS Group set a $21.00 price target on Olin in a research note on Monday, February 2nd. Zacks Research downgraded shares of Olin from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Citigroup lifted their price objective on shares of Olin from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Royal Bank Of Canada dropped their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Monday, February 2nd. Finally, Morgan Stanley cut their target price on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.87.

Olin Trading Up 4.1%

OLN traded up $1.18 during trading on Tuesday, reaching $30.06. 400,421 shares of the stock traded hands, compared to its average volume of 3,266,048. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $3.42 billion, a PE ratio of -79.25 and a beta of 1.56. The stock’s 50-day moving average is $24.72 and its 200 day moving average is $23.03. Olin has a 12 month low of $17.66 and a 12 month high of $30.16.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting the consensus estimate of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company posted $0.09 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts anticipate that Olin will post 1.38 earnings per share for the current year.

Insider Activity at Olin

In other Olin news, VP R Nichole Sumner sold 4,750 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares in the company, valued at approximately $557,099.79. The trade was a 16.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the transaction, the vice president owned 1,528 shares in the company, valued at approximately $37,054. The trade was a 60.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 99,379 shares of company stock valued at $2,238,298. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Olin

Large investors have recently added to or reduced their stakes in the business. Choreo LLC purchased a new stake in shares of Olin in the third quarter worth approximately $726,000. Thrivent Financial for Lutherans grew its holdings in Olin by 6.9% during the third quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock worth $40,974,000 after buying an additional 105,484 shares in the last quarter. V. M. Manning & CO. Inc. purchased a new stake in Olin in the 2nd quarter valued at $989,000. Invenomic Capital Management LP bought a new position in Olin during the 3rd quarter valued at $5,761,000. Finally, Bayforest Capital Ltd purchased a new position in Olin during the 3rd quarter worth $770,000. Institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.