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

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

A number of other analysts also recently issued reports on OLN. Barclays increased their price target on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Citigroup upped their price objective on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. UBS Group increased their target price on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Stifel Nicolaus increased their target price on shares of Olin from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Finally, KeyCorp increased their target price on shares of Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.33.

Olin Stock Performance

Shares of OLN stock traded up $0.15 during trading hours on Friday, hitting $53.32. The company’s stock had a trading volume of 257,403 shares, compared to its average volume of 1,022,047. The company has a 50 day moving average of $55.43 and a 200 day moving average of $51.39. Olin has a 12-month low of $41.71 and a 12-month high of $60.60. The stock 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. 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 (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. Olin had a net margin of 6.74% and a return on equity of 18.44%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.50 billion. On average, sell-side analysts forecast that Olin will post 3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the transaction, the chief executive officer now owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction that occurred 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 transaction, the chief financial officer now owns 137,517 shares in the company, valued at $7,446,545.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of Olin stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the transaction, the chief executive officer now owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. 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 Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Baystate Wealth Management LLC grew its holdings in Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Olin during the 1st quarter worth approximately $26,000. Sandy Spring Bank lifted its position in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 364 shares during the last quarter. Covestor Ltd lifted its position in shares of Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 286 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Olin by 508.6% during the 1st quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 590 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.