Royal Bank of Canada Lowers Olin (NYSE:OLN) Price Target to $19.00

Olin (NYSE:OLN) had its price objective trimmed by Royal Bank of Canada to $19.00 in a research note issued to investors on Wednesday morning, The Fly reports. The firm currently has a sector perform rating on the specialty chemicals company’s stock.

A number of other brokerages also recently commented on OLN. ValuEngine downgraded shares of Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. Nomura downgraded shares of Infosys from a neutral rating to a reduce rating in a research note on Monday, April 15th. Cowen restated a buy rating and issued a $6.50 target price on shares of Daseke in a research note on Monday, May 6th. Finally, Alembic Global Advisors set a $95.00 target price on shares of Celanese and gave the stock a sell rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Olin has a consensus rating of Hold and an average price target of $29.08.

Shares of OLN stock opened at $21.51 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.48 and a quick ratio of 0.85. The company has a market cap of $3.41 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.72 and a beta of 1.54. The stock has a 50-day moving average of $21.43. Olin has a one year low of $17.87 and a one year high of $32.00.

Olin (NYSE:OLN) last issued its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.69 billion. Olin had a return on equity of 11.12% and a net margin of 5.14%. Olin’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share. As a group, analysts expect that Olin will post 1.41 earnings per share for the current fiscal year.

In other Olin news, Director Scott Mcdougald Sutton acquired 8,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $20.71 per share, for a total transaction of $165,680.00. Following the completion of the purchase, the director now owns 30,000 shares in the company, valued at $621,300. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John L. Mcintosh sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $21.74, for a total transaction of $228,270.00. Following the transaction, the executive vice president now owns 100,812 shares in the company, valued at $2,191,652.88. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Olin by 1,219.7% during the first quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 1,549 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new position in shares of Olin during the fourth quarter valued at approximately $50,000. First Quadrant L P CA bought a new position in shares of Olin during the first quarter valued at approximately $100,000. Cigna Investments Inc. New purchased a new stake in Olin during the first quarter valued at approximately $200,000. Finally, Magnus Financial Group LLC purchased a new stake in Olin during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

See Also: Leveraged Buyout (LBO)

The Fly

Analyst Recommendations for Olin (NYSE:OLN)

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