Olin (NYSE:OLN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Olin (NYSE:OLN) had its price objective lifted by stock analysts at Wells Fargo & Company from $21.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 1.11% from the company’s current price.

A number of other research firms have also recently commented on OLN. Mizuho raised their target price on shares of Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada reduced their price objective on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a research note on Monday, February 2nd. Morgan Stanley reduced their price objective on shares of Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. BMO Capital Markets decreased their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 target price on shares of Olin in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.73.

Olin Stock Down 4.9%

NYSE OLN opened at $24.73 on Friday. Olin has a 52 week low of $17.66 and a 52 week high of $27.35. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $2.81 billion, a P/E ratio of -65.07 and a beta of 1.56. The stock’s 50-day moving average price is $23.91 and its 200-day moving average price is $22.87.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. On average, equities research analysts predict that Olin will post 1.38 earnings per share for the current year.

Insider Activity

In related news, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the transaction, the vice president owned 1,528 shares in the company, valued at approximately $37,054. This represents a 60.89% decrease in their ownership of the stock. 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 92,250 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the transaction, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,379 shares of company stock worth $2,238,298 over the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Several hedge funds have recently bought and sold shares of OLN. Royal Bank of Canada grew its position in shares of Olin by 20.2% during the first quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock valued at $2,066,000 after purchasing an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin in the first quarter worth about $32,000. Jones Financial Companies Lllp lifted its position in shares of Olin by 467.9% in the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock worth $335,000 after buying an additional 11,374 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Olin by 57.6% during the first quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock valued at $14,268,000 after buying an additional 215,235 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Olin by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock valued at $7,696,000 after buying an additional 20,047 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Company Profile

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.