Olin (NYSE:OLN) Stock Price Target Raised at Royal Bank Of Canada

Olin (NYSE:OLN) had its target price raised by Royal Bank Of Canada from $16.00 to $19.00 in a report issued 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 objective would suggest a potential upside of 4.45% from the stock’s previous close.

A number of other research firms also recently issued reports on OLN. Truist Financial decreased their target price on shares of Olin from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. KeyCorp assumed coverage on shares of Olin in a research note on Friday, September 11th. They set an “overweight” rating and a $26.00 target price on the stock. The Goldman Sachs Group set a $18.00 price target on Olin in a research report on Wednesday, September 30th. BMO Capital Markets reduced their price objective on shares of Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a research report on Monday, July 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, 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 during midday trading on Monday, hitting $18.19. The stock had a trading volume of 771,183 shares, compared to its average volume of 3,160,973. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -12.33 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Olin has a one year low of $14.64 and a one year high of $30.46. The stock has a 50-day moving average of $16.44 and a 200 day moving average of $22.28.

Olin (NYSE:OLN) last released its quarterly earnings results 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.83 billion. Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. As a group, sell-side analysts forecast that Olin will post -0.80 EPS for the current year.

Institutional Investors Weigh In On Olin

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised 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 purchasing an additional 659 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Olin during the 1st quarter valued at approximately $45,000. Nykredit A S purchased a new stake in shares of Olin in the 2nd quarter worth about $59,000. IFP Advisors Inc lifted its stake in Olin by 118.9% in the 2nd quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 1,718 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of Olin in the third quarter valued at approximately $76,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.