Olin (NYSE:OLN) Price Target Cut to $63.00 by Analysts at Royal Bank of Canada

Olin (NYSE:OLN) had its price objective dropped by equities researchers at Royal Bank of Canada from $69.00 to $63.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 17.74% from the company’s previous close.

A number of other equities analysts have also weighed in on OLN. Bank of America decreased their target price on Olin from $74.00 to $72.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group boosted their target price on Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. KeyCorp decreased their target price on Olin from $78.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company boosted their price target on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus boosted their price target on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Olin Stock Up 0.1 %

Shares of OLN traded up $0.03 during trading hours on Monday, hitting $53.51. The company had a trading volume of 182,480 shares, compared to its average volume of 1,017,020. The firm has a fifty day moving average price of $55.63 and a 200-day moving average price of $51.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 0.29 and a beta of 1.44. Olin has a 52-week low of $41.71 and a 52-week high of $60.60.

Olin (NYSE:OLN) last posted its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. Olin’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, equities research analysts forecast that Olin will post 3.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the transaction, the chief executive officer now directly owns 90,327 shares in the company, valued at approximately $4,732,231.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd A. Slater sold 63,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the sale, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The disclosure for this sale can be found here. Insiders sold 753,274 shares of company stock worth $40,434,124 in the last three months. 1.80% of the stock is owned by company insiders.

Institutional Trading of Olin

Several hedge funds have recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of Olin by 30.0% during the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 198 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Olin by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the specialty chemicals company’s stock valued at $2,034,000 after buying an additional 200 shares during the period. Ritholtz Wealth Management raised its holdings in Olin by 1.5% during the 4th quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company’s stock valued at $884,000 after buying an additional 238 shares during the period. Financial Advocates Investment Management raised its holdings in Olin by 5.5% during the 4th quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock valued at $274,000 after buying an additional 266 shares during the period. Finally, Covestor Ltd raised its holdings in Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 286 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.