KeyCorp Increases Olin (NYSE:OLN) Price Target to $50.00


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Olin (NYSE:OLN) had its price target increased by KeyCorp from $48.00 to $50.00 in a research note issued on Monday, Price Targets.com reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price indicates a potential upside of 25.79% from the stock’s current price. KeyCorp also issued estimates for Olin’s Q2 2021 earnings at $1.12 EPS, Q4 2021 earnings at $0.80 EPS, FY2021 earnings at $4.15 EPS and FY2022 earnings at $4.32 EPS.

A number of other analysts have also weighed in on OLN. Barclays upped their target price on shares of Olin from $30.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, March 18th. JPMorgan Chase & Co. increased their price target on shares of Olin from $30.00 to $48.00 in a report on Thursday, April 1st. Wells Fargo & Company increased their price target on shares of Olin from $39.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, March 23rd. Royal Bank of Canada raised shares of Olin from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $56.00 in a report on Thursday, April 1st. Finally, Tudor Pickering raised shares of Olin from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, March 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $36.93.

Olin stock opened at $39.75 on Monday. The firm’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $25.71. The company has a current ratio of 1.60, a quick ratio of 1.02 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $6.31 billion, a PE ratio of -6.18, a price-to-earnings-growth ratio of 1.19 and a beta of 1.22. Olin has a 1-year low of $9.67 and a 1-year high of $42.27.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 28th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.04). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.46 billion. Olin had a negative return on equity of 9.98% and a negative net margin of 18.47%. Research analysts forecast that Olin will post -2.47 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. First Hawaiian Bank boosted its stake in shares of Olin by 10.4% in the 1st quarter. First Hawaiian Bank now owns 20,218 shares of the specialty chemicals company’s stock valued at $768,000 after purchasing an additional 1,900 shares in the last quarter. Norges Bank purchased a new stake in Olin during the 4th quarter valued at $41,772,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Olin by 20.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 422,100 shares of the specialty chemicals company’s stock valued at $10,367,000 after buying an additional 72,100 shares during the period. Hsbc Holdings PLC boosted its position in Olin by 1.5% during the 4th quarter. Hsbc Holdings PLC now owns 35,557 shares of the specialty chemicals company’s stock valued at $886,000 after buying an additional 510 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Olin during the 4th quarter valued at $203,000. 84.70% of the stock is owned by institutional investors.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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Analyst Recommendations for Olin (NYSE:OLN)

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