Olin (OLN) PT Lowered to $35.00 at SunTrust Banks

Olin (NYSE:OLN) had its price target lowered by equities research analysts at SunTrust Banks to $35.00 in a report released on Wednesday, The Fly reports. The brokerage presently has an “in-line” rating on the specialty chemicals company’s stock. SunTrust Banks’ target price points to a potential upside of 77.85% from the company’s current price. The analysts noted that the move was a valuation call.

OLN has been the topic of a number of other reports. Zacks Investment Research lowered Olin from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Barclays started coverage on Olin in a research report on Monday, October 8th. They set an “equal weight” rating and a $29.00 target price on the stock. Morgan Stanley set a $38.00 target price on Olin and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Susquehanna Bancshares boosted their target price on Olin from $37.00 to $40.00 and gave the stock a “positive” rating in a research report on Thursday, August 2nd. Finally, Nomura cut their target price on Olin from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $33.89.

Shares of Olin stock opened at $19.68 on Wednesday. The firm has a market cap of $3.37 billion, a PE ratio of 24.30 and a beta of 1.53. The company has a current ratio of 1.80, a quick ratio of 1.07 and a debt-to-equity ratio of 1.27. Olin has a 12-month low of $18.49 and a 12-month high of $38.84.



Olin (NYSE:OLN) last announced its earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.80 billion. Olin had a return on equity of 10.86% and a net margin of 11.02%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. Equities research analysts predict that Olin will post 2.05 EPS for the current fiscal year.

In other news, EVP John L. Mcintosh sold 42,000 shares of Olin stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $29.98, for a total transaction of $1,259,160.00. Following the transaction, the executive vice president now owns 97,141 shares in the company, valued at $2,912,287.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Olin by 68.3% during the second quarter. FMR LLC now owns 12,699,713 shares of the specialty chemicals company’s stock valued at $364,736,000 after buying an additional 5,155,375 shares in the last quarter. Iridian Asset Management LLC CT grew its holdings in shares of Olin by 1.9% during the second quarter. Iridian Asset Management LLC CT now owns 7,577,714 shares of the specialty chemicals company’s stock valued at $217,632,000 after buying an additional 139,899 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Olin by 10.5% during the second quarter. Macquarie Group Ltd. now owns 3,890,639 shares of the specialty chemicals company’s stock valued at $111,739,000 after buying an additional 369,392 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Olin by 0.7% during the second quarter. Northern Trust Corp now owns 1,329,809 shares of the specialty chemicals company’s stock valued at $38,192,000 after buying an additional 9,308 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Olin by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,181,523 shares of the specialty chemicals company’s stock valued at $33,934,000 after purchasing an additional 91,380 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.

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