Owens-Illinois, Inc. (OI) Given Consensus Recommendation of “Hold” by Analysts
Shares of Owens-Illinois, Inc. (NYSE:OI) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.40.
A number of research analysts have weighed in on the company. KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a report on Friday, November 10th. TheStreet downgraded Owens-Illinois from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Bank of America raised their price objective on Owens-Illinois from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Robert W. Baird raised their price objective on Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Zacks Investment Research raised Owens-Illinois from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th.
Owens-Illinois (NYSE OI) traded down $0.09 during mid-day trading on Friday, reaching $23.95. The company’s stock had a trading volume of 1,188,900 shares, compared to its average volume of 1,260,125. Owens-Illinois has a 52 week low of $17.31 and a 52 week high of $25.90. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.74 and a current ratio of 1.23. The company has a market capitalization of $3,918.30, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 1.25 and a beta of 1.52.
In related news, insider Timothy M. Connors sold 3,500 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total transaction of $83,510.00. Following the completion of the sale, the insider now owns 19,624 shares in the company, valued at $468,228.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OI. Acadian Asset Management LLC purchased a new stake in shares of Owens-Illinois during the second quarter worth about $113,000. Janney Montgomery Scott LLC purchased a new position in Owens-Illinois during the 2nd quarter valued at approximately $344,000. IFP Advisors Inc grew its holdings in Owens-Illinois by 853.3% during the 2nd quarter. IFP Advisors Inc now owns 17,255 shares of the industrial products company’s stock valued at $413,000 after buying an additional 15,445 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Owens-Illinois by 17.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 129,300 shares of the industrial products company’s stock valued at $3,093,000 after buying an additional 19,200 shares in the last quarter. Finally, Foundry Partners LLC grew its holdings in Owens-Illinois by 7.4% during the 2nd quarter. Foundry Partners LLC now owns 733,293 shares of the industrial products company’s stock valued at $17,540,000 after buying an additional 50,624 shares in the last quarter. Hedge funds and other institutional investors own 93.73% of the company’s stock.
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Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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