Stay Ahead of Wall Street. Find out what is happening to Olin Corporation (NYSE:OLN) stock today? Its price is jumping 0.95 points, trading at $19.14 levels, and is up 5.2% from its previous close of $18.19. The shares seem to have an active trading volume day with a reported 1217310 contracts so far this session. OLN shares had a relatively better volume day versus average trading capacity of 2.56 million shares, but with a 0.16 billion float and a 3.53% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OLN stock indicates that the average analyst price target is $23.59 per share. This means the stock has a potential increase of 23.25% from where the OLN share price has been trading recently which is between $17.55 and $18.285.
During the recent trading session for Olin Corporation (NYSE:OLN), the company witnessed their stock rise $1.27 over a week and surge $0.3 from the price 20 days ago. When compared to their established 52-week high of $27.32, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/21/19. The recent low of $15.38 stood for a -29.96% since 08/23/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.6 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Olin Corporation, the two-week RSI stands at 60.58. This figure suggests that OLN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current OLN readings is similarly very revealing as it has a stochastic reading of 54.74% at this stage. This figure means that OLN share price today is being neutral.
Technical chart claims that Olin Corporation (OLN) would settle between $18.47/share to $18.74/share level. However, if the stock price goes below the $17.73 mark, then the market for Olin Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $17.27 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.33. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup lowered their recommendation on shares of OLN from Buy to Neutral in their opinion released on October 09. Barclays analysts again handed out a Equal Weight recommendation to Olin Corporation (NYSE:OLN) stock but they lifted target price for the shares in a flash note issued to investors on October 03. The target price has been raised from $22 to $21. Analysts at BofA/Merrill are sticking to their Buy stance. However, on August 16, they lifted price target for these shares to $22 from $29.
OLN equity has an average rating of 2.5, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated Olin Corporation (NYSE:OLN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, OLN stock price is currently trading at 10.56X forward 12-month Consensus EPS estimates, and its P/E ratio is 11.3 while for the average stock in the same group, the multiple is 22.1. Olin Corporation current P/B ratio of 1.1 means it is trading at a discount against its industry’s 3.9.
Olin Corporation (OLN)’s current-quarter revenues are projected to climb by nearly -6.9% to hit $1.74 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -6.4% from $6.95 billion to a noteworthy $6.5 billion. At the other end of the current quarter income statement, Olin Corporation is expected to see its adjusted earnings surge by roughly -56.1% to hit $0.36 per share. For the fiscal year, OLN’s earnings are projected to climb by roughly -47.1% to hit $1 per share.