Olin (NYSE:OLN) PT Lowered to $58.00

Olin (NYSE:OLNGet Rating) had its target price reduced by Royal Bank of Canada from $70.00 to $58.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 28.21% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Barclays cut their target price on Olin from $65.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, July 11th. Credit Suisse Group assumed coverage on Olin in a research report on Tuesday, September 6th. They issued an “underperform” rating and a $51.00 price objective on the stock. Citigroup boosted their price objective on Olin to $57.00 in a research report on Tuesday, August 9th. UBS Group cut their price objective on Olin from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, StockNews.com cut Olin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.75.

Olin Stock Down 0.0 %

Shares of NYSE:OLN opened at $45.24 on Wednesday. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 4.76, a PEG ratio of 1.45 and a beta of 1.31. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 0.96. Olin has a 12-month low of $43.02 and a 12-month high of $67.25. The business’s 50 day moving average is $52.42 and its 200 day moving average is $54.27.

Insider Activity at Olin

In related news, COO James A. Varilek sold 3,345 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $57.81, for a total transaction of $193,374.45. Following the sale, the chief operating officer now directly owns 17,761 shares in the company, valued at approximately $1,026,763.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Olin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. bought a new stake in shares of Olin during the 1st quarter valued at $26,000. Wellington Shields Capital Management LLC bought a new position in Olin in the 1st quarter worth about $28,000. TCI Wealth Advisors Inc. increased its stake in Olin by 169.2% in the 1st quarter. TCI Wealth Advisors Inc. now owns 603 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 379 shares during the last quarter. TFO TDC LLC bought a new position in Olin in the 1st quarter worth about $32,000. Finally, Quent Capital LLC bought a new position in Olin in the 4th quarter worth about $40,000. 87.92% of the stock is currently owned by institutional investors.

About Olin

(Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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