Olin (NYSE:OLN) Price Target Cut to $19.00 by Analysts at Wells Fargo & Company

Olin (NYSE:OLN - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $25.00 to $19.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the specialty chemicals company's stock. Wells Fargo & Company's price target indicates a potential downside of 8.96% from the stock's current price.

Several other analysts also recently weighed in on the stock. Truist Financial lowered their price target on shares of Olin from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. Morgan Stanley dropped their price objective on Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Bank of America raised shares of Olin from a "neutral" rating to a "buy" rating and cut their price target for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Piper Sandler cut their target price on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Citigroup lowered their price target on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $34.63.

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Olin Price Performance

OLN traded up $0.44 on Wednesday, reaching $20.87. The company had a trading volume of 1,561,044 shares, compared to its average volume of 1,971,788. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. Olin has a 52-week low of $17.66 and a 52-week high of $57.10. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 23.19 and a beta of 1.50. The business has a 50 day simple moving average of $24.75 and a 200 day simple moving average of $34.21.

Olin (NYSE:OLN - Get Free Report) last announced 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, sell-side analysts anticipate that Olin will post 1.38 EPS for the current year.

Insider Transactions at Olin

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares of the company's stock, valued at approximately $203,435. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently made changes to their positions in OLN. Harbor Capital Advisors Inc. lifted its position in Olin by 73.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 248,466 shares of the specialty chemicals company's stock valued at $6,023,000 after acquiring an additional 105,404 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Olin by 183.8% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock worth $63,000 after purchasing an additional 1,713 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Olin by 48.3% during the first quarter. First Citizens Bank & Trust Co. now owns 10,278 shares of the specialty chemicals company's stock valued at $249,000 after purchasing an additional 3,348 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Olin by 36.8% during the first quarter. Wedge Capital Management L L P NC now owns 80,901 shares of the specialty chemicals company's stock valued at $1,961,000 after buying an additional 21,767 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in Olin by 108,185.7% in the 1st quarter. NBC Securities Inc. now owns 7,580 shares of the specialty chemicals company's stock worth $183,000 after buying an additional 7,573 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

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.