Olin (NYSE:OLN) Given New $26.00 Price Target at Piper Sandler

Olin (NYSE:OLN - Get Free Report) had its target price dropped by investment analysts at Piper Sandler from $33.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the specialty chemicals company's stock. Piper Sandler's target price would indicate a potential upside of 27.23% from the company's current price.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley cut their price target on Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. BMO Capital Markets cut their target price on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Barclays dropped their price target on Olin from $34.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Royal Bank of Canada cut shares of Olin from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $45.00 to $30.00 in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut shares of Olin from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $50.00 to $28.00 in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $35.44.

Remove Ads

Olin Stock Performance

OLN traded up $0.80 during trading on Monday, hitting $20.44. The stock had a trading volume of 2,495,243 shares, compared to its average volume of 1,522,099. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company has a 50 day moving average price of $24.75 and a 200-day moving average price of $34.31. Olin has a one year low of $17.66 and a one year high of $57.10. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 22.71 and a beta of 1.50.

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

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company's stock.

Institutional Trading of Olin

A number of institutional investors have recently modified their holdings of OLN. Covestor Ltd raised its holdings in shares of Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 419 shares in the last quarter. Spire Wealth Management raised its holdings in Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after purchasing an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Olin in the 4th quarter worth about $66,000. Jones Financial Companies Lllp boosted its stake in shares of Olin by 59.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company's stock valued at $82,000 after purchasing an additional 911 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after buying an additional 738 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.