Piper Sandler Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price target dropped by research analysts at Piper Sandler from $57.00 to $51.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s price objective would indicate a potential upside of 24.30% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group lowered their target price on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. UBS Group decreased their price objective on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Barclays decreased their price objective on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday. Wells Fargo & Company decreased their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, KeyCorp decreased their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating for the company 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.86.

Olin Stock Down 0.2 %

NYSE OLN opened at $41.03 on Wednesday. The stock has a fifty day moving average of $44.64 and a 200-day moving average of $47.78. The stock has a market capitalization of $4.78 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 1.53 and a beta of 1.41. Olin has a 52 week low of $39.47 and a 52 week high of $60.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40.

Institutional Trading of Olin

A number of institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Olin by 125.7% in 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 purchasing an additional 51,251 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 276 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of 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 purchasing an additional 680 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of 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 purchasing an additional 350 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Olin by 495.3% in the third 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 purchasing an additional 64,610 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

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.