Royal Bank of Canada Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price objective cut by equities researchers at Royal Bank of Canada from $52.00 to $48.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 16.67% from the company’s current price.

Several other brokerages have also issued reports on OLN. Bank of America lowered shares of Olin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $51.00 in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a report on Monday, July 29th. Piper Sandler cut their price objective on Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Barclays lowered their target price on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, KeyCorp cut their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.86.

Olin Stock Up 0.6 %

Olin stock opened at $41.14 on Tuesday. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 1.01 and a beta of 1.41. The company’s 50 day simple moving average is $44.72 and its 200 day simple moving average is $47.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin has a fifty-two week low of $39.47 and a fifty-two week high of $60.60.

Institutional Trading of Olin

Institutional investors and hedge funds have recently bought and sold shares of the stock. OLD National Bancorp IN increased its position in shares of Olin by 4.2% during the 2nd quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after purchasing an additional 253 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares during the last quarter. Scott & Selber Inc. raised its position in Olin by 1.7% during the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock worth $906,000 after acquiring an additional 326 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Company Profile

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.