KeyCorp Cuts Olin (NYSE:OLN) Price Target to $56.00

Olin (NYSE:OLN) had its price objective lowered by stock analysts at KeyCorp from $57.00 to $56.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price would suggest a potential upside of 35.17% from the stock’s previous close.

A number of other research firms have also weighed in on OLN. Mizuho assumed coverage on shares of Olin in a research report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price target on the stock. Bank of America cut Olin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $62.00 to $51.00 in a report on Monday, July 29th. UBS Group reduced their price target on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. The Goldman Sachs Group dropped their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $52.33.

Olin Stock Down 8.0 %

OLN stock opened at $41.43 on Monday. Olin has a one year low of $39.47 and a one year high of $60.60. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The firm has a market cap of $4.95 billion, a PE ratio of 14.90, a P/E/G ratio of 1.12 and a beta of 1.41. The firm’s fifty day moving average is $44.78 and its 200 day moving average is $48.13.

Olin (NYSE:OLN) last announced its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $1.13 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts forecast that Olin will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Olin

Several institutional investors have recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Olin during the 1st quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 525 shares in the last quarter. nVerses Capital LLC purchased a new position in Olin in the second quarter valued at $33,000. Headlands Technologies LLC acquired a new position in Olin during the 1st quarter worth $69,000. Finally, Denver PWM LLC purchased a new stake in Olin during the 2nd quarter worth about $59,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, and chlorinated organics intermediates and solvents.