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

Olin (NYSE:OLN) had its target price cut by Piper Sandler from $57.00 to $51.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s target price suggests a potential upside of 23.61% from the stock’s current price.

OLN has been the topic of several other research reports. KeyCorp lowered their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday. Bank of America cut shares of Olin from a “buy” rating to a “neutral” rating and reduced their target price for the company from $62.00 to $51.00 in a research note on Monday, July 29th. Barclays lowered their price target on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday. BMO Capital Markets cut their target price on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada decreased their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus target price of $50.93.

Olin Stock Performance

Shares of NYSE OLN traded up $0.37 during trading hours on Wednesday, hitting $41.26. 260,772 shares of the stock were exchanged, compared to its average volume of 1,160,879. The firm has a market capitalization of $4.85 billion, a P/E ratio of 33.27, a P/E/G ratio of 1.01 and a beta of 1.41. The company’s 50 day moving average is $44.72 and its 200 day moving average is $47.88. Olin has a one year low of $39.47 and a one year high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently made changes to their positions in OLN. FORA Capital LLC grew its holdings in Olin by 47.4% during the first quarter. FORA Capital LLC now owns 14,149 shares of the specialty chemicals company’s stock valued at $832,000 after purchasing an additional 4,552 shares during the period. Empowered Funds LLC increased its stake in Olin by 42.3% during the 1st quarter. Empowered Funds LLC now owns 48,020 shares of the specialty chemicals company’s stock worth $2,824,000 after purchasing an additional 14,279 shares in the last quarter. Swiss National Bank increased its stake in Olin by 2.7% during the 1st quarter. Swiss National Bank now owns 241,932 shares of the specialty chemicals company’s stock worth $14,226,000 after purchasing an additional 6,300 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Olin in the first quarter valued at approximately $167,000. Finally, Headlands Technologies LLC bought a new stake in shares of Olin during the first quarter worth $69,000. 88.67% of the stock is owned by institutional investors and hedge funds.

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.