Citigroup Analysts Give Olin (OLN) a $40.00 Price Target

Olin (NYSE:OLN) has been assigned a $40.00 price objective by stock analysts at Citigroup in a research note issued to investors on Monday. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s target price would suggest a potential upside of 27.71% from the company’s current price.

Several other research analysts have also recently weighed in on OLN. Zacks Investment Research raised shares of Olin from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. TheStreet raised shares of Olin from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. SunTrust Banks reissued a “buy” rating and set a $46.00 price target on shares of Olin in a research report on Monday, November 6th. Royal Bank of Canada restated a “buy” rating and issued a $42.00 price objective on shares of Olin in a report on Thursday, December 14th. Finally, Vertical Research upgraded shares of Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Olin currently has a consensus rating of “Buy” and an average target price of $39.80.

Shares of Olin (NYSE:OLN) traded up $0.77 during mid-day trading on Monday, hitting $31.32. 4,755,902 shares of the stock traded hands, compared to its average volume of 2,290,000. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.07 and a current ratio of 1.78. The firm has a market cap of $5,210.00, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.95 and a beta of 1.35. Olin has a 1 year low of $27.79 and a 1 year high of $38.84.

Olin (NYSE:OLN) last announced its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $0.44 by $2.45. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Olin had a net margin of 8.77% and a return on equity of 6.02%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. analysts expect that Olin will post 2.34 EPS for the current fiscal year.

In related news, EVP John L. Mcintosh sold 9,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $35.42, for a total value of $336,490.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of OLN. Kensico Capital Management Corp increased its stake in Olin by 43.3% during the third quarter. Kensico Capital Management Corp now owns 7,800,000 shares of the specialty chemicals company’s stock worth $267,150,000 after purchasing an additional 2,355,000 shares during the period. Jennison Associates LLC increased its stake in Olin by 7,869.7% during the third quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock worth $68,240,000 after purchasing an additional 1,967,417 shares during the period. BlackRock Inc. increased its stake in Olin by 5.3% during the fourth quarter. BlackRock Inc. now owns 16,689,125 shares of the specialty chemicals company’s stock worth $593,800,000 after purchasing an additional 842,715 shares during the period. Iridian Asset Management LLC CT increased its stake in Olin by 5.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 7,760,477 shares of the specialty chemicals company’s stock worth $276,118,000 after purchasing an additional 390,184 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Olin by 1,116.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 381,729 shares of the specialty chemicals company’s stock worth $13,074,000 after purchasing an additional 350,349 shares during the period. Hedge funds and other institutional investors own 90.08% of the company’s stock.

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Olin Company Profile

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Analyst Recommendations for Olin (NYSE:OLN)

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