Owens-Illinois Inc (NYSE:OI) Receives Consensus Recommendation of “Hold” from Analysts

Owens-Illinois Inc (NYSE:OI) has received a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $11.20.

Several equities research analysts recently commented on OI shares. Robert W. Baird cut their price target on shares of Owens-Illinois from $22.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. KeyCorp reissued a “sell” rating and set a $4.75 target price on shares of Owens-Illinois in a research note on Thursday, March 12th. Bank of America downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a research report on Monday, April 13th. BMO Capital Markets lowered their price objective on Owens-Illinois from $13.00 to $8.00 and set a “market perform” rating on the stock in a report on Thursday, April 9th. Finally, Wells Fargo & Co lowered Owens-Illinois from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $15.00 to $7.00 in a research note on Friday, April 17th.

Shares of Owens-Illinois stock traded down $0.76 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 market capitalization of $1.33 billion, a price-to-earnings ratio of -2.81, a price-to-earnings-growth ratio of 0.46 and a beta of 1.61. Owens-Illinois has a 1 year low of $4.30 and a 1 year high of $17.86. The company has a debt-to-equity ratio of 80.46, a quick ratio of 1.05 and a current ratio of 1.62. The firm has a fifty day moving average price of $8.21 and a 200-day moving average price of $9.68.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. As a group, analysts forecast that Owens-Illinois will post 1.24 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Quantitative Investment Management LLC acquired a new stake in Owens-Illinois during the first quarter worth about $490,000. Garner Asset Management Corp grew its stake in shares of 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 buying an additional 3,871 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Owens-Illinois during the 1st quarter worth approximately $87,000. Markel Corp raised its position in shares of Owens-Illinois by 26.9% during the 1st 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 period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Owens-Illinois during the 1st quarter valued at approximately $25,000. 94.63% of the stock is currently owned by institutional investors.

About Owens-Illinois

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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