Barclays Lowers Olin (NYSE:OLN) Price Target to $34.00

Olin (NYSE:OLN - Get Free Report) had its target price cut by equities research analysts at Barclays from $43.00 to $34.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the specialty chemicals company's stock. Barclays's target price points to a potential upside of 19.65% from the company's previous close.

OLN has been the subject of a number of other reports. Morgan Stanley dropped their price objective on shares of Olin from $41.00 to $31.00 and set an "underweight" rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their target price on shares of Olin from $40.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Monday. Royal Bank of Canada lowered their target price on Olin from $52.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th. Piper Sandler reduced their price target on Olin from $51.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Olin currently has an average rating of "Hold" and an average price target of $40.94.

Olin Price Performance

NYSE OLN traded up $1.71 during trading hours on Monday, hitting $28.42. The company had a trading volume of 5,102,067 shares, compared to its average volume of 1,826,123. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 0.69 and a beta of 1.45. Olin has a 52 week low of $26.48 and a 52 week high of $60.60. The firm has a 50 day simple moving average of $34.60 and a 200 day simple moving average of $40.64.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Equities research analysts expect that Olin will post 2.47 earnings per share for the current year.

Olin declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP R Nichole Sumner sold 10,500 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares of the company's stock, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

A number of institutional investors and hedge funds have recently modified their holdings of OLN. Harbor Capital Advisors Inc. boosted its position in Olin by 55.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock worth $4,835,000 after purchasing an additional 51,051 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Olin during the 3rd quarter valued at about $916,000. Charles Schwab Investment Management Inc. increased its holdings in Olin by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company's stock worth $62,168,000 after acquiring an additional 37,043 shares in the last quarter. Mariner Investment Group LLC purchased a new stake in Olin in the 4th quarter worth approximately $355,000. Finally, KBC Group NV raised its stake in Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock worth $185,000 after acquiring an additional 2,476 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.