Citigroup Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its target price decreased by research analysts at Citigroup from $24.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s target price would suggest a potential downside of 17.32% from the company’s previous close.

Several other brokerages also recently commented on OLN. Truist Financial reduced their target price on Olin from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday. Wells Fargo & Company reduced their price objective on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Mizuho set a $22.00 target price on shares of Olin in a report on Friday, January 30th. Bank of America boosted their price target on shares of Olin from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada decreased their price objective on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus target price of $22.86.

Olin Trading Up 10.8%

Shares of NYSE:OLN opened at $25.40 on Tuesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 1.35. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -66.84, a PEG ratio of 8.09 and a beta of 1.64. Olin has a 1-year low of $17.66 and a 1-year high of $28.77. The company has a 50 day moving average price of $21.91 and a 200 day moving average price of $22.10.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, research analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Insider Activity at Olin

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total value of $93,870.00. Following the transaction, the vice president directly owned 17,199 shares of the company’s stock, valued at $358,771.14. This represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olin

Institutional investors have recently bought and sold shares of the stock. Strategic Advocates LLC bought a new position in Olin in the 3rd quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin during the first quarter worth $32,000. Bessemer Group Inc. raised its stake in Olin by 712.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the last quarter. Evelyn Partners Investment Management LLP boosted its holdings in Olin by 6,360.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares during the period. Finally, Allworth Financial LP grew its position in Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 927 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.