Olin (NYSE:OLN) Given New $34.00 Price Target at Barclays

Olin (NYSE:OLN) had its price target dropped by equities researchers at Barclays from $43.00 to $34.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price would suggest a potential upside of 21.95% from the stock’s current price.

Several other research firms also recently issued reports on OLN. Royal Bank of Canada dropped their price objective on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Citigroup lowered their price target on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Piper Sandler reduced their price objective on Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial decreased their price objective on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday. Finally, BMO Capital Markets reduced their target price on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.06.

Olin Stock Performance

OLN stock traded down $1.41 during midday trading on Monday, hitting $27.88. 1,406,271 shares of the company traded hands, compared to its average volume of 1,559,257. Olin has a twelve month low of $27.15 and a twelve month high of $60.60. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The business has a 50 day simple moving average of $35.52 and a 200-day simple moving average of $41.03.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. As a group, equities research analysts predict that Olin will post 2.47 earnings per share for the current year.

Olin announced that its board has authorized a share buyback plan on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Olin

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the last quarter. Covestor Ltd raised its stake in shares of Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 715 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Olin in the third quarter valued at approximately $47,000. Spire Wealth Management boosted its stake in Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after acquiring an additional 318 shares during the period. 88.67% of the stock is owned by institutional investors.

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.