Olin (NYSE:OLN) Price Target Raised to $60.00

Olin (NYSE:OLNGet Free Report) had its price objective lifted by analysts at Wells Fargo & Company from $56.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.15% from the company’s previous close.

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. UBS Group raised their price objective on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Stifel Nicolaus upped their target price on Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Barclays increased their price target on Olin from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Olin in a research note on Thursday, December 7th. They issued a “hold” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.93.

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Olin Stock Performance

Shares of OLN stock opened at $59.32 on Wednesday. The firm has a market cap of $7.10 billion, a P/E ratio of 16.76, a PEG ratio of 0.33 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. Olin has a fifty-two week low of $41.71 and a fifty-two week high of $59.95. The stock’s 50-day moving average is $54.44 and its two-hundred day moving average is $50.75.

Olin (NYSE:OLNGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.10. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.50 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. Analysts predict that Olin will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the transaction, the chief executive officer now owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Valerie A. Peters sold 71,800 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the sale, the vice president now owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the transaction, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock valued at $40,434,124 over the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olin

Several large investors have recently modified their holdings of OLN. Baystate Wealth Management LLC boosted its stake in Olin by 154.6% in the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Olin in the 1st quarter worth about $26,000. Covestor Ltd increased its position in shares of Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares in the last quarter. Sandy Spring Bank lifted its holdings in Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the last quarter. Finally, Quarry LP boosted its position in Olin by 508.6% in the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 590 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

About Olin

(Get Free Report)

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.

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Analyst Recommendations for Olin (NYSE:OLN)

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