Olin (NYSE:OLN) Price Target Cut to $45.00

Olin (NYSE:OLN) had its price target lowered by equities research analysts at Barclays from $49.00 to $45.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price suggests a potential upside of 10.08% from the company’s previous close.

Several other brokerages have also weighed in on OLN. UBS Group lowered their price objective on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada cut their price objective on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Bank of America cut shares of Olin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $62.00 to $51.00 in a research report on Monday, July 29th. The Goldman Sachs Group dropped their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Finally, KeyCorp reduced their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.33.

Olin Stock Performance

NYSE:OLN opened at $40.88 on Monday. The company’s 50-day moving average is $44.76 and its two-hundred day moving average is $47.97. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin has a 1-year low of $39.47 and a 1-year high of $60.60.

Institutional Trading of Olin

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in Olin by 125.7% in the third quarter. Harbor Capital Advisors Inc. now owns 92,011 shares of the specialty chemicals company’s stock worth $4,415,000 after acquiring an additional 51,251 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of Olin by 1.2% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 55,550 shares of the specialty chemicals company’s stock worth $2,665,000 after purchasing an additional 680 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Olin by 3.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Olin by 495.3% in the third quarter. State of Alaska Department of Revenue now owns 77,655 shares of the specialty chemicals company’s stock valued at $3,725,000 after buying an additional 64,610 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.