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

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

OLN has been the subject of several other research reports. Alembic Global Advisors set a $95.00 target price on Celanese and gave the company a sell rating in a research note on Monday, April 22nd. Cowen restated a buy rating and set a $6.50 target price on shares of Daseke in a research note on Monday, May 6th. ValuEngine downgraded Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. Finally, Nomura downgraded Infosys from a neutral rating to a reduce rating in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $29.08.

Shares of NYSE:OLN opened at $21.51 on Wednesday. The firm’s 50 day simple moving average is $21.43. Olin has a twelve month low of $17.87 and a twelve month high of $32.00. The company has a market cap of $3.41 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.72 and a beta of 1.54. 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 announced its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). Olin had a net margin of 5.14% and a return on equity of 11.12%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company earned $0.12 EPS. Olin’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, research analysts predict that Olin will post 1.41 EPS for the current fiscal year.

In other news, Director Scott Mcdougald Sutton acquired 7,000 shares of Olin stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $21.02 per share, for a total transaction of $147,140.00. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at $462,440. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John L. Mcintosh sold 19,335 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.54, for a total value of $435,810.90. Following the completion of the sale, the executive vice president now owns 81,477 shares of the company’s stock, valued at approximately $1,836,491.58. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the business. CWM LLC lifted its position in shares of Olin by 1,219.7% during the 1st quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 1,549 shares during the period. Nalls Sherbakoff Group LLC bought a new position in shares of Olin during the 4th quarter worth approximately $50,000. First Quadrant L P CA bought a new position in shares of Olin during the 1st quarter worth approximately $100,000. Cigna Investments Inc. New bought a new position in shares of Olin during the 1st quarter worth approximately $200,000. Finally, Magnus Financial Group LLC bought a new position in shares of Olin during the 4th quarter worth approximately $209,000. Institutional investors own 91.78% of the company’s stock.

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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