Royal Bank of Canada Cuts Olin (NYSE:OLN) Price Target to $58.00

Olin (NYSE:OLNGet Rating) had its price target dropped by equities research analysts at Royal Bank of Canada from $70.00 to $58.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 28.21% from the stock’s current price.

Several other research analysts have also issued reports on OLN. Barclays decreased their target price on Olin from $65.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Piper Sandler decreased their target price on Olin from $73.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday. KeyCorp increased their target price on Olin from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. Wells Fargo & Company decreased their target price on Olin from $78.00 to $69.00 and set an “overweight” rating for the company in a research report on Monday, August 1st. Finally, Credit Suisse Group began coverage on Olin in a research report on Tuesday, September 6th. They issued an “underperform” rating and a $51.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.75.

Olin Trading Down 0.0 %

NYSE OLN opened at $45.24 on Wednesday. Olin has a fifty-two week low of $43.02 and a fifty-two week high of $67.25. The stock has a market cap of $6.57 billion, a P/E ratio of 4.76, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. The stock has a 50 day simple moving average of $52.42 and a two-hundred day simple moving average of $54.27. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 1.44.

Insiders Place Their Bets

In other Olin news, COO James A. Varilek sold 3,345 shares of Olin stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $57.81, for a total value of $193,374.45. Following the completion of the sale, the chief operating officer now owns 17,761 shares of the company’s stock, valued at approximately $1,026,763.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.00% of the company’s stock.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Salem Investment Counselors Inc. purchased a new position in shares of Olin in the 1st quarter worth $26,000. Wellington Shields Capital Management LLC purchased a new position in shares of Olin in the 1st quarter worth $28,000. TFO TDC LLC purchased a new position in shares of Olin in the 1st quarter worth $32,000. TCI Wealth Advisors Inc. boosted its stake in shares of Olin by 169.2% in the 1st quarter. TCI Wealth Advisors Inc. now owns 603 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 379 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in shares of Olin by 56.8% in the 2nd quarter. FNY Investment Advisers LLC now owns 712 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 258 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Olin Company Profile

(Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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