Olin (NYSE:OLN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Olin (NYSE:OLN) had its price target lifted by stock analysts at Wells Fargo & Company from $16.00 to $17.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 4.45% from the company’s previous close.

Several other research firms also recently commented on OLN. Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Olin from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, August 25th. BMO Capital Markets dropped their price target on shares of Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a research note on Monday, July 6th. Truist Financial lifted their price target on shares of Olin from $15.00 to $17.00 and gave the stock a “hold” rating in a report on Monday. Finally, Mizuho boosted their price objective on shares of Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Olin presently has a consensus rating of “Reduce” and a consensus price target of $20.64.

Olin Trading Down 2.0%

Shares of OLN stock traded down $0.36 during mid-day trading on Tuesday, reaching $17.79. 432,439 shares of the stock traded hands, compared to its average volume of 3,170,401. The stock’s fifty day simple moving average is $16.44 and its two-hundred day simple moving average is $22.25. Olin has a 1-year low of $14.64 and a 1-year high of $30.46. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -12.01 and a beta of 1.23. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company earned $0.37 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Olin will post -0.80 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Olin in the 2nd quarter valued at $1,267,000. Amundi increased its position in shares of Olin by 337.2% during the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after buying an additional 527,586 shares during the period. Engineers Gate Manager LP raised its stake in Olin by 1,601.5% during the second quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company’s stock worth $4,172,000 after buying an additional 198,108 shares during the last quarter. WINTON GROUP Ltd bought a new position in Olin during the second quarter worth $1,747,000. Finally, Empowered Funds LLC raised its stake in Olin by 1,946.0% during the first quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company’s stock worth $12,950,000 after buying an additional 414,309 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.