Olin (NYSE:OLN) Given New $19.00 Price Target at Royal Bank Of Canada

Olin (NYSE:OLN) had its price objective lifted by investment analysts at Royal Bank Of Canada from $16.00 to $19.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada‘s price target points to a potential upside of 4.45% from the stock’s current price.

Several other research firms also recently commented on OLN. Wall Street Zen raised shares of Olin from a “strong sell” rating to a “sell” rating in a report on Saturday. UBS Group lowered their target price on Olin from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. KeyCorp assumed coverage on shares of Olin in a report on Friday, September 11th. They issued an “overweight” rating and a $26.00 target price on the stock. Mizuho increased their target price on shares of Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Citigroup dropped their target price on shares of Olin from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Olin currently has a consensus rating of “Reduce” and an average target price of $20.29.

Olin Trading Up 3.4%

NYSE:OLN traded up $0.59 on Monday, reaching $18.19. 771,183 shares of the stock traded hands, compared to its average volume of 3,160,973. Olin has a 1-year low of $14.64 and a 1-year high of $30.46. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 1.75. The company’s 50 day moving average is $16.44 and its 200-day moving average is $22.28. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -12.33 and a beta of 1.14.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.83 billion. Olin had a negative net margin of 2.49% and a negative return on equity of 6.63%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS. Equities research analysts anticipate that Olin will post -0.80 EPS for the current fiscal year.

Institutional Trading of Olin

Several institutional investors and hedge funds have recently modified their holdings of OLN. Rockefeller Capital Management L.P. grew its position in shares of Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Olin during the 1st quarter valued at approximately $45,000. Nykredit A S purchased a new position in shares of Olin in the second quarter worth $59,000. IFP Advisors Inc boosted its position in shares of Olin by 118.9% during the second quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 1,718 shares during the last quarter. Finally, CX Institutional purchased a new stake in Olin in the 3rd quarter worth $76,000. 88.67% of the stock is currently owned by institutional investors.

About Olin

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.