Royal Bank Of Canada Forecasts Strong Price Appreciation for Olin (NYSE:OLN) Stock

Olin (NYSE:OLN) had its price target raised by equities research analysts at Royal Bank Of Canada from $22.00 to $24.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 2.45% from the stock’s current price.

OLN has been the subject of a number of other reports. Bank of America raised their price objective on shares of Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a report on Wednesday, October 8th. KeyCorp lowered their price objective on Olin from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Mizuho set a $26.00 target price on Olin in a report on Friday, October 3rd. Finally, Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.14.

Olin Stock Performance

Olin stock opened at $23.43 on Friday. Olin has a twelve month low of $17.66 and a twelve month high of $34.76. The company has a quick ratio of 0.89, a current ratio of 1.56 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $2.67 billion, a P/E ratio of 50.92, a PEG ratio of 2.81 and a beta of 1.64. The stock’s 50 day moving average is $21.01 and its 200 day moving average is $21.96.

Olin (NYSE:OLN) last released its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.09 by $0.31. Olin had a return on equity of 3.36% and a net margin of 0.79%.The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Transactions at Olin

In related news, VP Teresa M. Vermillion sold 4,500 shares of Olin stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the sale, the vice president owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. This trade represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Institutional investors have recently added to or reduced their stakes in the stock. Ilex Capital Partners UK LLP purchased a new position in shares of Olin in the second quarter worth $50,476,000. Millennium Management LLC grew its stake in Olin by 1,063.0% during the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after acquiring an additional 2,272,877 shares in the last quarter. Norges Bank bought a new stake in Olin in the 2nd quarter valued at $27,843,000. Semper Augustus Investments Group LLC lifted its stake in Olin by 141.3% in the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock worth $48,087,000 after purchasing an additional 1,126,809 shares in the last quarter. Finally, Amundi purchased a new stake in Olin in the 3rd quarter worth $24,418,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.