Morgan Stanley Analysts Give Olin (OLN) a $38.00 Price Target
Olin (NYSE:OLN) received a $38.00 price target from analysts at Morgan Stanley in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective indicates a potential upside of 39.19% from the stock’s current price.
Several other equities research analysts also recently commented on OLN. TheStreet upgraded shares of Olin from a “c+” rating to a “b” rating in a research report on Wednesday, August 1st. Citigroup cut their target price on shares of Olin from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, July 11th. ValuEngine downgraded shares of Olin from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Zacks Investment Research downgraded shares of Olin from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, Susquehanna Bancshares lifted their target price on shares of Olin from $37.00 to $40.00 and gave the stock a “positive” rating in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Olin currently has an average rating of “Buy” and a consensus target price of $36.08.
NYSE:OLN traded down $0.08 during mid-day trading on Wednesday, hitting $27.30. 72,762 shares of the company’s stock were exchanged, compared to its average volume of 1,975,547. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.80 and a quick ratio of 1.07. Olin has a fifty-two week low of $27.11 and a fifty-two week high of $38.84. The company has a market cap of $4.61 billion, a PE ratio of 33.69 and a beta of 1.49.
In other news, EVP John L. Mcintosh sold 42,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $29.98, for a total value of $1,259,160.00. Following the transaction, the executive vice president now owns 97,141 shares in the company, valued at approximately $2,912,287.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of OLN. Balter Liquid Alternatives LLC acquired a new position in shares of Olin in the 2nd quarter worth approximately $154,000. Baird Financial Group Inc. acquired a new position in shares of Olin in the 2nd quarter worth approximately $204,000. GWM Advisors LLC acquired a new position in shares of Olin in the 1st quarter worth approximately $221,000. WINTON GROUP Ltd acquired a new position in shares of Olin in the 1st quarter worth approximately $222,000. Finally, MAI Capital Management acquired a new position in shares of Olin in the 2nd quarter worth approximately $240,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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