JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Olin (NYSE:OLN) Stock

Olin (NYSE:OLN) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $20.00 to $26.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 4.38% from the stock’s previous close.

Several other research analysts also recently commented on OLN. UBS Group raised their price objective on Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group raised their price objective on Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank Of Canada set a $30.00 price objective on Olin and gave the stock a “sector perform” rating in a report on Friday, April 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Finally, Citigroup lifted their price target on Olin from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Olin currently has an average rating of “Hold” and an average price target of $27.79.

Olin Trading Down 2.0%

OLN traded down $0.55 during trading hours on Friday, reaching $27.19. 651,318 shares of the company’s stock traded hands, compared to its average volume of 2,959,834. The firm has a 50-day moving average price of $27.11 and a 200 day moving average price of $23.83. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $3.10 billion, a PE ratio of -24.23 and a beta of 1.21.

Insider Buying and Selling

In other Olin news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares of the company’s stock, valued at approximately $37,054. The trade was a 60.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Entropy Technologies LP lifted its holdings in shares of Olin by 73.1% in the 1st quarter. Entropy Technologies LP now owns 48,875 shares of the specialty chemicals company’s stock valued at $1,453,000 after buying an additional 20,642 shares during the period. Sei Investments Co. lifted its holdings in shares of Olin by 132.5% in the 1st quarter. Sei Investments Co. now owns 169,374 shares of the specialty chemicals company’s stock valued at $5,036,000 after buying an additional 96,516 shares during the period. State of Wyoming lifted its holdings in shares of Olin by 99.4% in the 1st quarter. State of Wyoming now owns 16,277 shares of the specialty chemicals company’s stock valued at $484,000 after buying an additional 8,113 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in shares of Olin by 2.0% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock valued at $928,000 after buying an additional 609 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Olin by 80.8% in the 1st quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company’s stock valued at $21,199,000 after buying an additional 318,588 shares during the period. Institutional investors and hedge funds 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.