UBS Group Cuts Olin (NYSE:OLN) Price Target to $21.00

Olin (NYSE:OLN - Get Free Report) had its target price reduced by investment analysts at UBS Group from $34.00 to $21.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price target would suggest a potential upside of 2.76% from the stock's previous close.

Several other brokerages also recently weighed in on OLN. Truist Financial reduced their target price on Olin from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. BMO Capital Markets dropped their target price on shares of Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Citigroup cut their target price on shares of Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut Olin from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $50.00 to $28.00 in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.44.

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Olin Stock Performance

Shares of NYSE:OLN traded up $0.80 during trading on Monday, hitting $20.44. 2,495,243 shares of the stock traded hands, compared to its average volume of 1,522,099. The company has a fifty day moving average price of $24.75 and a two-hundred day moving average price of $34.31. Olin has a 52-week low of $17.66 and a 52-week high of $57.10. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 22.71 and a beta of 1.50. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) 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, equities analysts predict that Olin will post 1.38 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olin

Several institutional investors have recently bought and sold shares of the company. Covestor Ltd increased its stake in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 419 shares during the period. Spire Wealth Management increased 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 worth $55,000 after acquiring an additional 1,150 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Olin in the fourth quarter valued at $66,000. Jones Financial Companies Lllp grew its stake in Olin by 59.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock worth $82,000 after purchasing an additional 911 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

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.