Royal Bank of Canada Cuts Olin (NYSE:OLN) Price Target to $19.00

Olin (NYSE:OLN) had its price target lowered by Royal Bank of Canada to $19.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a sector perform rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued research reports about the company. Alembic Global Advisors set a $95.00 price target on Celanese and gave the stock a sell rating in a research note on Monday, April 22nd. Cowen restated a buy rating and issued a $6.50 price objective on shares of Daseke in a report on Monday, May 6th. ValuEngine lowered Yext from a strong-buy rating to a buy rating in a report on Friday, May 10th. Finally, Nomura lowered Infosys from a neutral rating to a reduce rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Olin currently has a consensus rating of Hold and an average price target of $29.08.

NYSE:OLN opened at $21.51 on Wednesday. Olin has a 1 year low of $17.87 and a 1 year high of $32.00. The company has a market capitalization of $3.41 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.72 and a beta of 1.54. The stock has a fifty day simple moving average of $21.43. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.85 and a current ratio of 1.48.

Olin (NYSE:OLN) last released its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.04). Olin had a return on equity of 11.12% and a net margin of 5.14%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the company posted $0.12 EPS. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. Equities analysts expect that Olin will post 1.41 EPS for the current fiscal year.

In other news, EVP John L. Mcintosh sold 10,500 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $21.74, for a total transaction of $228,270.00. Following the completion of the sale, the executive vice president now directly owns 100,812 shares of the company’s stock, valued at $2,191,652.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott Mcdougald Sutton bought 7,000 shares of Olin stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $21.02 per share, with a total value of $147,140.00. Following the completion of the acquisition, the director now owns 22,000 shares of the company’s stock, valued at $462,440. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in OLN. CWM LLC lifted its holdings in shares of Olin by 1,219.7% during the first quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 1,549 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in shares of Olin during the fourth quarter valued at $50,000. First Quadrant L P CA purchased a new stake in shares of Olin during the first quarter valued at $100,000. Cigna Investments Inc. New purchased a new stake in shares of Olin during the first quarter valued at $200,000. Finally, Magnus Financial Group LLC acquired a new position in Olin during the fourth quarter valued at $209,000. 91.78% 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 and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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