Olin (NYSE:OLN) Price Target Cut to $23.00 by Analysts at Mizuho

Olin (NYSE:OLN) had its price objective dropped by stock analysts at Mizuho from $26.00 to $23.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective would indicate a potential upside of 15.65% from the stock’s previous close.

Several other equities analysts have also weighed in on OLN. Truist Financial raised their target price on Olin from $20.00 to $26.00 and gave the company a “hold” rating in a report on Monday, May 11th. Bank of America lowered Olin from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $32.00 to $21.00 in a report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research note on Friday, May 22nd. JPMorgan Chase & Co. reduced their target price on Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. Finally, Morgan Stanley upped their target price on Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average target price of $27.08.

Olin Stock Down 4.5%

OLN stock opened at $19.89 on Wednesday. The firm has a market cap of $2.27 billion, a PE 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 fifty day simple moving average of $25.36 and a 200 day simple moving average of $24.74. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Hedge Funds Weigh In On Olin

A number of institutional investors have recently made changes to their positions in OLN. Glenmede Trust Co. NA acquired a new position in shares of Olin during the 1st quarter worth about $206,000. Segall Bryant & Hamill LLC acquired a new stake in Olin in the 1st quarter valued at approximately $14,770,000. Edgestream Partners L.P. acquired a new stake in Olin in the 1st quarter valued at approximately $6,894,000. Sunbelt Securities Inc. bought a new position in Olin in the 1st quarter worth approximately $45,000. Finally, Amundi increased its position in Olin by 337.2% in the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after buying an additional 527,586 shares during the period. 88.67% of the stock is currently owned by institutional investors.

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.