RBC Capital Believes Olin Corp (NYSE: OLN) Still Has Room to Grow

By Carrie Williams

In a report released today, Arun Viswanathan from RBC Capital reiterated a Buy rating on Olin Corp (NYSE: OLN), with a price target of $35. The company’s shares closed yesterday at $31.86, close to its 52-week high of $33.88.

According to TipRanks.com, Viswanathan is a 5-star analyst with an average return of 11.5% and a 72.2% success rate. Viswanathan covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Westlake Chemical Corp, and Axalta Coating Systems.

Currently, the analyst consensus on Olin Corp is Moderate Buy and the average price target is $37.50, representing a 17.7% upside.

In a report issued on May 8, Merrill Lynch also initiated coverage with a Buy rating on the stock with a $40 price target.

The company has a one year high of $33.88 and a one year low of $18.24. Currently, Olin Corp has an average volume of 2.47M.

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Olin Corp. engages in manufacturing of chemicals products. The company operates through there business segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali and Vinyls segment manufactures and sells chlorine and caustic soda, 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 manufactures 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.