Olin (NYSE:OLN) Price Target Lowered to $21.00 at UBS Group

Olin (NYSE:OLN) had its price objective dropped by equities research analysts at UBS Group from $23.00 to $21.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target points to a potential upside of 12.87% from the stock’s previous close.

Several other research analysts have also recently commented on OLN. Morgan Stanley raised their target price on shares of Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Wells Fargo & Company reissued an “overweight” rating and set a $37.00 price target on shares of Olin in a research report on Sunday, May 10th. The Goldman Sachs Group lowered their price objective on Olin from $31.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Royal Bank Of Canada cut their target price on Olin from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their target price on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and a consensus target price of $24.69.

Olin Stock Performance

NYSE:OLN traded up $0.10 during mid-day trading on Monday, reaching $18.61. 3,699,229 shares of the company’s stock were exchanged, compared to its average volume of 3,009,282. Olin has a one year low of $17.73 and a one year high of $30.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. The business’s fifty day simple moving average is $22.72 and its two-hundred day simple moving average is $24.76. The firm has a market capitalization of $2.12 billion, a PE ratio of -15.04 and a beta of 1.21.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake in Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olin in the 1st quarter valued at $32,000. Sunbelt Securities Inc. bought a new position in shares of Olin in the 1st quarter valued at $45,000. NewEdge Advisors LLC raised its holdings in shares of Olin by 45.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 721 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Olin by 34.0% during the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock worth $54,000 after buying an additional 659 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.