Owens-Illinois Downgraded to Neutral at Bank of America Corp. (OI)
Owens-Illinois (NYSE:OI) was downgraded by equities researchers at Bank of America Corp. to a “neutral” rating in a research report issued on Friday, American Banking & Market News reports.
Shares of Owens-Illinois (NYSE:OI) opened at 35.53 on Friday. Owens-Illinois has a one year low of $21.54 and a one year high of $35.95. The stock has a 50-day moving average of $33.79 and a 200-day moving average of $30.70. The company has a market cap of $5.860 billion and a P/E ratio of 35.08.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.02. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company posted $0.69 earnings per share. Owens-Illinois’s revenue was up 2.1% compared to the same quarter last year.
A number of other firms have also recently commented on OI. Analysts at Goldman Sachs Group Inc. downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, December 11th. They now have a $35.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Deutsche Bank raised their price target on shares of Owens-Illinois from $34.00 to $40.00 in a research note to investors on Wednesday, December 4th. They now have a “buy” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Owens-Illinois from $32.00 to $35.00 in a research note to investors on Friday, November 1st. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Owens-Illinois has a consensus rating of “Buy” and a consensus price target of $34.75.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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