Olin (NYSE:OLN) Price Target Cut to $28.00 by Analysts at Barclays

Olin (NYSE:OLN - Get Free Report) had its price objective dropped by equities research analysts at Barclays from $34.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the specialty chemicals company's stock. Barclays's price target would indicate a potential upside of 26.78% from the stock's current price.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Olin from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $50.00 to $28.00 in a research note on Thursday, February 27th. 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. UBS Group set a $28.00 price objective on shares of Olin in a research report on Thursday, February 27th. KeyCorp dropped their target price on Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price target on Olin from $31.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Olin has an average rating of "Hold" and an average price target of $36.69.

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Olin Stock Performance

Shares of NYSE OLN traded down $2.62 during midday trading on Tuesday, reaching $22.09. 2,144,857 shares of the company were exchanged, compared to its average volume of 1,464,703. The stock has a market cap of $2.54 billion, a P/E ratio of 24.54 and a beta of 1.61. Olin has a 1 year low of $22.05 and a 1 year high of $60.60. The stock has a fifty day simple moving average of $26.75 and a 200 day simple moving average of $35.76. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, research analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Olin declared that its Board of Directors has initiated a share repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased 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 of the company's stock, valued at approximately $203,435. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Olin

Large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its position in shares of Olin by 5,746.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company's stock valued at $54,546,000 after acquiring an additional 1,586,192 shares in the last quarter. Norges Bank purchased a new position in Olin in the 4th quarter valued at about $47,887,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Olin by 6.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company's stock worth $424,095,000 after purchasing an additional 531,330 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Olin by 11.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after buying an additional 467,680 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Olin by 890.4% in the fourth quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company's stock valued at $15,244,000 after buying an additional 405,480 shares during the last quarter. Institutional investors and hedge funds 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.