Olin (NYSE:OLN) PT Lowered to $44.00

Olin (NYSE:OLN - Get Free Report) had its price objective decreased by equities research analysts at Wells Fargo & Company from $48.00 to $44.00 in a report released on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the specialty chemicals company's stock. Wells Fargo & Company's price target points to a potential upside of 5.49% from the stock's current price.

Several other research analysts have also commented on OLN. Mizuho initiated coverage on Olin in a research report on Thursday, August 8th. They issued a "neutral" rating and a $45.00 target price for the company. BMO Capital Markets started coverage on shares of Olin in a research report on Tuesday, September 3rd. They issued a "market perform" rating and a $50.00 price target on the stock. Royal Bank of Canada lowered their price objective on shares of 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 cut their target price for the stock from $62.00 to $51.00 in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised Olin from a "neutral" rating to an "overweight" rating and set a $55.00 target price for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $51.80.

Olin Stock Up 0.7 %

OLN stock traded up $0.28 during midday trading on Monday, hitting $41.71. 1,773,314 shares of the company's stock were exchanged, compared to its average volume of 1,162,908. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average price of $44.78 and a 200-day moving average price of $48.08. Olin has a 12-month low of $39.47 and a 12-month high of $60.60.

Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. Olin had a return on equity of 6.19% and a net margin of 2.33%. Olin's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 EPS. On average, analysts anticipate that Olin will post 1.58 EPS for the current year.

Institutional Investors Weigh In On Olin

Several hedge funds have recently made changes to their positions in OLN. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings 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 valued at $2,665,000 after acquiring an additional 680 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company's stock worth $568,000 after buying an additional 350 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Olin by 495.3% during the 3rd 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 acquiring an additional 64,610 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Olin by 139.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,232 shares of the specialty chemicals company's stock valued at $971,000 after acquiring an additional 11,766 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 worth $75,000 after purchasing an additional 318 shares during the last quarter. Hedge funds and other 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.