Olin (NYSE:OLN) Price Target Cut to $20.00 by Analysts at Truist Financial

Olin (NYSE:OLN) had its price objective decreased by stock analysts at Truist Financial from $24.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price target suggests a potential upside of 6.73% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the company a “sector perform” rating in a research note on Friday, April 10th. Citigroup downgraded shares of Olin from a “neutral” rating to an “underperform” rating in a research report on Tuesday, June 30th. Wall Street Zen cut Olin from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, UBS Group raised 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.23.

Olin Price Performance

Shares of NYSE OLN traded up $0.23 during mid-day trading on Monday, reaching $18.74. The company had a trading volume of 569,585 shares, compared to its average volume of 2,987,651. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -15.12 and a beta of 1.21. The business’s 50-day simple moving average is $22.72 and its 200 day simple moving average is $24.76. Olin has a one year low of $17.73 and a one year high of $30.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42.

Hedge Funds Weigh In On Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its stake 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 buying an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olin in the 1st quarter valued at $32,000. Sunbelt Securities Inc. acquired a new stake in shares of Olin during the 1st quarter valued at $45,000. UMB Bank n.a. boosted its holdings in shares of Olin by 34.0% during the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock valued at $54,000 after acquiring an additional 659 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Olin by 45.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 721 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

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.