Olin (NYSE:OLN) Price Target Lowered to $20.00 at Morgan Stanley

Olin (NYSE:OLN) had its target price dropped by equities research analysts at Morgan Stanley from $28.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s target price points to a potential downside of 13.10% from the company’s previous close.

Several other analysts have also issued reports on the company. UBS Group increased their price objective on Olin from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Royal Bank of Canada lowered their price target on Olin from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Monday, May 5th. KeyCorp dropped their target price on shares of Olin from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Finally, Citigroup decreased their price target on shares of Olin from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.07.

Olin Trading Up 7.9%

Shares of Olin stock traded up $1.68 on Monday, reaching $23.01. 514,305 shares of the company were exchanged, compared to its average volume of 1,582,397. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 25.55 and a beta of 1.56. The stock has a fifty day moving average price of $22.47 and a 200-day moving average price of $30.61.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. Olin had a net margin of 1.66% and a return on equity of 5.10%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts expect that Olin will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Olin in the 1st quarter valued at approximately $31,000. Allworth Financial LP lifted its stake in Olin by 188.5% in the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 1,095 shares in the last quarter. Covestor Ltd boosted its position in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 419 shares during the last quarter. Finally, Spire Wealth Management grew its stake in shares of Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 1,150 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

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.