Deutsche Bank Aktiengesellschaft Cuts Olin (NYSE:OLN) Price Target to $48.00

Olin (NYSE:OLN) had its price objective lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $57.00 to $48.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 6.95% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada cut their price objective on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday. Stifel Nicolaus raised their price objective on shares of Olin from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Bank of America reduced their target price on shares of Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Piper Sandler raised their price target on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Citigroup boosted their price objective on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.64.

Olin Price Performance

Shares of NYSE:OLN traded up $0.29 on Monday, hitting $44.88. The stock had a trading volume of 1,894,517 shares, compared to its average volume of 1,081,069. The firm’s 50 day moving average price is $49.67 and its 200-day moving average price is $52.72. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. Olin has a twelve month low of $41.71 and a twelve month high of $60.60. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.32 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company posted $1.13 earnings per share. Olin’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that Olin will post 3.1 earnings per share for the current year.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently modified their holdings of OLN. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Olin by 67.0% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 54,870 shares of the specialty chemicals company’s stock valued at $2,587,000 after buying an additional 22,005 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Olin by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,030 shares of the specialty chemicals company’s stock worth $1,039,000 after acquiring an additional 1,535 shares during the period. Bank of New York Mellon Corp lifted its position in Olin by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock valued at $64,761,000 after acquiring an additional 33,143 shares in the last quarter. Fifth Third Bancorp boosted its stake in Olin by 532.8% in the 2nd quarter. Fifth Third Bancorp now owns 5,429 shares of the specialty chemicals company’s stock worth $256,000 after purchasing an additional 4,571 shares during the period. Finally, Summit Global Investments bought a new position in Olin during the 2nd quarter worth about $518,000. 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.