Royal Bank of Canada Boosts Olin (NYSE:OLN) Price Target to $69.00

Olin (NYSE:OLN) had its target price hoisted by Royal Bank of Canada from $64.00 to $69.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 29.41% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Citigroup increased their price objective on shares of Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays increased their price objective on shares of Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Wells Fargo & Company raised their price target on shares of Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 3rd. UBS Group raised their price target on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Finally, The Goldman Sachs Group raised their price target on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.33.

Olin Stock Up 0.3 %

NYSE:OLN traded up $0.15 during trading hours on Friday, hitting $53.32. The stock had a trading volume of 257,403 shares, compared to its average volume of 1,022,047. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14. Olin has a 1-year low of $41.71 and a 1-year high of $60.60. The business has a 50 day simple moving average of $55.43 and a two-hundred day simple moving average of $51.39. The company has a market cap of $6.38 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. Olin had a net margin of 6.74% and a return on equity of 18.44%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.50 billion. Analysts predict that Olin will post 3.75 EPS for the current year.

Insiders Place Their Bets

In other Olin news, VP Valerie A. Peters sold 71,800 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the sale, the vice president now directly owns 19,469 shares in the company, valued at $1,022,511.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Olin news, VP Valerie A. Peters sold 71,800 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the sale, the vice president now directly owns 19,469 shares in the company, valued at $1,022,511.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd A. Slater sold 63,250 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the sale, the chief financial officer now owns 137,517 shares in the company, valued at $7,446,545.55. The disclosure for this sale can be found here. Insiders sold a total of 753,274 shares of company stock valued at $40,434,124 over the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olin

Hedge funds have recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC raised its stake in shares of Olin by 154.6% during the third quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in Olin during the first quarter worth about $26,000. Sandy Spring Bank grew its holdings in Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 364 shares during the period. Covestor Ltd grew its holdings in Olin by 76.7% during the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 286 shares during the period. Finally, Quarry LP increased its stake in Olin by 508.6% in the 1st quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 590 shares in the last quarter. 88.67% of the stock is currently 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.