Mizuho Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price target lowered by research analysts at Mizuho from $25.00 to $24.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective would suggest a potential upside of 17.35% from the stock’s current price.

OLN has been the topic of a number of other research reports. Piper Sandler lowered their price objective on Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Barclays decreased their target price on Olin from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 28th. Royal Bank Of Canada dropped their price target on shares of Olin from $25.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 3rd. Truist Financial reduced their price objective on shares of Olin from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.33.

Olin Stock Performance

OLN stock opened at $20.45 on Tuesday. The firm has a 50 day moving average of $20.71 and a two-hundred day moving average of $24.34. Olin has a 12 month low of $17.66 and a 12 month high of $50.75. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 40.10 and a beta of 1.52. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 1.48.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.14. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Olin had a net margin of 0.94% and a return on equity of 3.13%. Olin’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, equities analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Olin

Several hedge funds have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. increased its stake in Olin by 40.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company’s stock valued at $154,766,000 after acquiring an additional 1,840,900 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Olin by 5,746.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company’s stock valued at $54,546,000 after purchasing an additional 1,586,192 shares in the last quarter. Norges Bank bought a new position in Olin in the fourth quarter worth $47,887,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Olin by 11.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company’s stock worth $295,514,000 after buying an additional 1,259,795 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Olin by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company’s stock valued at $110,204,000 after buying an additional 569,483 shares during the period. Institutional investors own 88.67% of the company’s stock.

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.