Olin (NYSE:OLN) PT Lowered to $56.00

Olin (NYSE:OLN) had its price target cut by equities researchers at KeyCorp from $57.00 to $56.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price objective would indicate a potential upside of 36.99% from the company’s previous close.

Other research analysts also recently issued reports about the company. UBS Group dropped their price objective on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research note on Monday, July 29th. Mizuho initiated coverage on Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price objective for the company. Barclays reduced their target price on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Royal Bank of Canada reduced their price objective on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.33.

Olin Price Performance

Olin stock opened at $40.88 on Monday. The stock has a market capitalization of $4.81 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. Olin has a 52 week low of $39.47 and a 52 week high of $60.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The stock has a fifty day moving average of $44.76 and a 200-day moving average of $47.97.

Institutional Investors Weigh In On Olin

Hedge funds have recently modified their holdings of the business. OLD National Bancorp IN boosted its holdings in Olin by 4.2% in the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 253 shares during the period. Farther Finance Advisors LLC raised its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares during the last quarter. Scott & Selber Inc. lifted its stake in shares of Olin by 1.7% in the 2nd quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock valued at $906,000 after purchasing an additional 326 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Olin by 3.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

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.