Mizuho Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price target reduced by investment analysts at Mizuho from $26.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s target price would suggest a potential upside of 15.65% from the stock’s previous close.

OLN has been the subject of several other reports. UBS Group upped their target price on Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Citigroup downgraded Olin from a “neutral” rating to an “underperform” rating in a report on Tuesday. Zacks Research raised shares of Olin from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Olin has an average rating of “Hold” and an average target price of $27.08.

Olin Trading Down 4.5%

Shares of NYSE:OLN opened at $19.89 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -17.76 and a beta of 1.17. Olin has a 1-year low of $18.08 and a 1-year high of $30.46. The company has a 50 day moving average price of $25.36 and a 200 day moving average price of $24.74.

Hedge Funds Weigh In On Olin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Choreo LLC acquired a new position in Olin in the 3rd quarter worth about $726,000. Invenomic Capital Management LP acquired a new stake in shares of Olin during the 3rd quarter valued at about $5,761,000. SG Americas Securities LLC grew its stake in shares of Olin by 142.0% in the 4th quarter. SG Americas Securities LLC now owns 455,757 shares of the specialty chemicals company’s stock valued at $9,493,000 after buying an additional 267,458 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Olin by 39.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 132,013 shares of the specialty chemicals company’s stock valued at $2,750,000 after buying an additional 37,289 shares in the last quarter. Finally, Stanley Laman Group Ltd. acquired a new position in Olin in the fourth quarter worth approximately $3,722,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.