KeyCorp Trims Olin (NYSE:OLN) Target Price to $57.00

Olin (NYSE:OLN - Get Free Report) had its price target dropped by stock analysts at KeyCorp from $62.00 to $57.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the specialty chemicals company's stock. KeyCorp's price target suggests a potential upside of 18.85% from the stock's current price.

A number of other research analysts also recently weighed in on OLN. UBS Group lowered their price objective on shares of Olin from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 9th. Piper Sandler lowered their target price on Olin from $75.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, July 30th. BMO Capital Markets began coverage on Olin in a research note on Tuesday, September 3rd. They set a "market perform" rating and a $50.00 price target for the company. The Goldman Sachs Group lowered their price objective on shares of Olin from $55.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, July 29th. Finally, Bank of America lowered shares of Olin from a "buy" rating to a "neutral" rating and cut their target price for the company from $62.00 to $51.00 in a research 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $52.40.

Olin Price Performance

OLN traded down $0.02 during midday trading on Monday, hitting $47.96. The stock had a trading volume of 696,315 shares, compared to its average volume of 1,144,588. The business has a fifty day moving average of $43.68 and a 200 day moving average of $49.27. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. Olin has a 1 year low of $39.47 and a 1 year high of $60.60. The company has a market cap of $5.64 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 1.02 and a beta of 1.41.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. Olin's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts forecast that Olin will post 1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olin

Several institutional investors have recently bought and sold shares of the company. OLD National Bancorp IN increased its stake 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 valued at $299,000 after purchasing an additional 253 shares in the last quarter. Scott & Selber Inc. lifted its holdings in shares of Olin by 1.7% in the second 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 in the last quarter. LRI Investments LLC purchased a new position in shares of Olin during the 1st quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its position in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 525 shares during the last quarter. Finally, M3 Advisory Group LLC lifted its stake in Olin by 2.6% in the 2nd quarter. M3 Advisory Group LLC now owns 21,477 shares of the specialty chemicals company's stock valued at $1,013,000 after buying an additional 544 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

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.