Truist Financial Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its target price lowered by Truist Financial from $32.00 to $25.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price target would indicate a potential upside of 22.34% from the stock’s current price.

A number of other brokerages have also weighed in on OLN. Barclays decreased their target price on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. UBS Group dropped their price objective on Olin from $34.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company decreased their price target on shares of Olin from $25.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and cut their target price for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. Finally, Piper Sandler reduced their price objective on Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Olin presently has an average rating of “Hold” and an average price target of $35.00.

Olin Trading Up 4.0 %

NYSE:OLN opened at $20.44 on Monday. Olin has a 52 week low of $17.66 and a 52 week high of $57.10. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 22.71 and a beta of 1.50. The company’s 50 day moving average price is $24.75 and its 200-day moving average price is $34.21. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, equities research analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kenneth Todd Lane acquired 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its stake in Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 419 shares during the period. Spire Wealth Management grew its position in Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 1,150 shares during the period. CoreFirst Bank & Trust purchased a new position in shares of Olin in the 4th quarter worth about $66,000. Jones Financial Companies Lllp grew its holdings in shares of Olin by 59.9% during the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after purchasing an additional 911 shares during the period. Finally, Blue Trust Inc. increased its position in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after purchasing an additional 738 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About Olin

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.