Owens-Illinois Inc (NYSE:OI) Given Average Rating of “Hold” by Brokerages

Shares of Owens-Illinois Inc (NYSE:OI) have earned an average rating of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $11.20.

Several analysts recently commented on the stock. Barclays reduced their price objective on shares of Owens-Illinois from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Thursday, April 30th. ValuEngine upgraded shares of Owens-Illinois from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Wells Fargo & Co cut Owens-Illinois from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $15.00 to $7.00 in a report on Friday, April 17th. KeyCorp reaffirmed a “sell” rating and set a $4.75 price objective on shares of Owens-Illinois in a report on Thursday, March 12th. Finally, Robert W. Baird decreased their target price on Owens-Illinois from $22.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th.

Shares of OI traded down $0.76 during mid-day trading on Friday, hitting $7.74. The company’s stock had a trading volume of 13,784,649 shares, compared to its average volume of 2,481,323. The company has a current ratio of 1.62, a quick ratio of 1.05 and a debt-to-equity ratio of 80.46. Owens-Illinois has a 1-year low of $4.30 and a 1-year high of $17.86. The firm has a market capitalization of $1.33 billion, a P/E ratio of -2.81, a P/E/G ratio of 0.46 and a beta of 1.61. The firm has a 50-day simple moving average of $8.21 and a 200 day simple moving average of $9.68.

Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Owens-Illinois had a positive return on equity of 61.87% and a negative net margin of 6.47%. Owens-Illinois’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, sell-side analysts predict that Owens-Illinois will post 1.24 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Markel Corp raised its position in shares of Owens-Illinois by 26.9% in the first quarter. Markel Corp now owns 444,000 shares of the industrial products company’s stock valued at $3,157,000 after buying an additional 94,000 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in Owens-Illinois in the 1st quarter worth approximately $490,000. Garner Asset Management Corp raised its holdings in Owens-Illinois by 17.6% in the 1st quarter. Garner Asset Management Corp now owns 25,882 shares of the industrial products company’s stock valued at $184,000 after acquiring an additional 3,871 shares during the last quarter. Teza Capital Management LLC purchased a new position in shares of Owens-Illinois during the 1st quarter worth $87,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Owens-Illinois during the first quarter worth $25,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

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Analyst Recommendations for Owens-Illinois (NYSE:OI)

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