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

Olin (NYSE:OLN) had its price objective dropped by stock analysts at Truist Financial from $38.00 to $32.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price target indicates a potential upside of 15.29% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group decreased their target price on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. KeyCorp lowered their price objective on Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday. Barclays reduced their target price on Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Royal Bank of Canada lowered their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Finally, Wells Fargo & Company dropped their price target on shares of Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.75.

Olin Stock Up 0.0 %

OLN stock opened at $27.76 on Monday. The firm has a market capitalization of $3.24 billion, a PE ratio of 30.84, a PEG ratio of 0.69 and a beta of 1.45. The business’s 50 day simple moving average is $34.92 and its 200 day simple moving average is $40.73. Olin has a 1-year low of $27.15 and a 1-year high of $60.60. 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 (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. As a group, research analysts anticipate that Olin will post 2.47 EPS for the current year.

Olin announced that its Board of Directors has approved a stock buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction on Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the last quarter. Covestor Ltd increased its holdings in Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 715 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Olin in the third quarter valued at approximately $47,000. Spire Wealth Management boosted its position in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 1,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

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.