Wells Fargo & Company Cuts Olin (NYSE:OLN) Price Target to $44.00

Olin (NYSE:OLN) had its price objective lowered by research analysts at Wells Fargo & Company from $48.00 to $44.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.63% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America cut shares of Olin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $51.00 in a research report on Monday, July 29th. KeyCorp reduced their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler decreased their target price on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Mizuho initiated coverage on Olin in a report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective on the stock. Finally, BMO Capital Markets began coverage on Olin in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.33.

Olin Price Performance

NYSE OLN opened at $40.88 on Monday. Olin has a 1 year low of $39.47 and a 1 year high of $60.60. The stock’s fifty day moving average price is $44.76 and its 200 day moving average price is $47.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.01 and a beta of 1.41.

Institutional Trading of Olin

Several large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its position in Olin by 125.7% during the third quarter. Harbor Capital Advisors Inc. now owns 92,011 shares of the specialty chemicals company’s stock valued at $4,415,000 after acquiring an additional 51,251 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Olin by 1.2% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 55,550 shares of the specialty chemicals company’s stock valued at $2,665,000 after acquiring an additional 680 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after acquiring an additional 350 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Olin by 495.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 77,655 shares of the specialty chemicals company’s stock valued at $3,725,000 after buying an additional 64,610 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

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.