Citigroup Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price target decreased by analysts at Citigroup from $19.00 to $17.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target would indicate a potential upside of 10.00% from the stock’s previous close.

OLN has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research note on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on Olin from $30.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, August 25th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $20.00 price objective (down from $25.00) on shares of Olin in a research report on Monday, August 3rd. Mizuho increased their price objective on Olin from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Olin currently has a consensus rating of “Reduce” and an average price target of $21.46.

Olin Trading Up 0.2%

Shares of Olin stock traded up $0.03 during trading on Wednesday, reaching $15.46. The company’s stock had a trading volume of 1,481,324 shares, compared to its average volume of 2,943,327. Olin has a 52-week low of $15.38 and a 52-week high of $30.46. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -12.56 and a beta of 1.20. The firm’s 50-day moving average is $18.37 and its two-hundred day moving average is $22.87. 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 earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the business posted ($0.01) EPS. Olin’s revenue for the quarter was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that Olin will post -0.68 earnings per share for the current year.

Institutional Trading of Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its holdings in Olin by 16.7% in the 2nd quarter. Tidal Investments LLC now owns 50,158 shares of the specialty chemicals company’s stock worth $994,000 after purchasing an additional 7,175 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Olin during the second quarter valued at about $1,747,000. Engineers Gate Manager LP raised its stake in Olin by 1,601.5% in 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 in the last quarter. Integrated Wealth Concepts LLC bought a new position in Olin in the second quarter worth about $205,000. Finally, IFP Advisors Inc lifted its holdings in Olin by 118.9% in the second quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 1,718 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin’s Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.