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Alembic Global Sticks to Their Buy Rating for Olin (OLN)

Alembic Global analyst Hassan Ahmed reiterated a Buy rating on Olin (OLNResearch Report) today and set a price target of $75.00. The company’s shares closed last Friday at $58.10.

Ahmed covers the Basic Materials sector, focusing on stocks such as Dow Inc, TRONOX, and Celanese. According to TipRanks, Ahmed has an average return of 8.1% and a 48.96% success rate on recommended stocks.

Currently, the analyst consensus on Olin is a Strong Buy with an average price target of $71.00, a 22.20% upside from current levels. In a report released on August 2, Piper Sandler also maintained a Buy rating on the stock with a $73.00 price target.

See today’s best-performing stocks on TipRanks >>

OLN market cap is currently $8.43B and has a P/E ratio of 6.11.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OLN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. . The Epoxy segment produces and sells epoxy materials, which includes allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. The company was founded by Franklin W. Olin in 1892 and is headquartered in Clayton, MO.

Read More on OLN:

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