Owens-Illinois (OI) Rating Lowered to Buy at BidaskClub

Owens-Illinois (NYSE:OI) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, July 25th.

OI has been the subject of several other research reports. Barclays raised their price objective on shares of Owens-Illinois from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. ValuEngine lowered shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 3rd. BMO Capital Markets restated a “hold” rating and set a $20.00 price objective on shares of Owens-Illinois in a research report on Friday, April 21st. Citigroup reduced their price objective on shares of Owens-Illinois from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, April 14th. Finally, Royal Bank of Canada restated a “hold” rating and set a $24.00 price objective on shares of Owens-Illinois in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.18.

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Shares of OI opened at $21.54 on Tuesday. The stock has a market capitalization of $3,513.34, a P/E ratio of 8.13, a P/E/G ratio of 1.35 and a beta of 1.40. The company has a debt-to-equity ratio of 5.52, a current ratio of 1.06 and a quick ratio of 0.61. Owens-Illinois has a 52-week low of $19.91 and a 52-week high of $25.90.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. equities research analysts expect that Owens-Illinois will post 2.81 EPS for the current fiscal year.

Owens-Illinois announced that its board has approved a share repurchase plan on Tuesday, February 6th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $22.57, for a total transaction of $268,808.70. Following the completion of the sale, the senior vice president now directly owns 28,070 shares of the company’s stock, valued at $633,539.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Owens-Illinois by 16,329.5% in the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock worth $298,679,000 after purchasing an additional 14,566,275 shares in the last quarter. Norges Bank purchased a new stake in shares of Owens-Illinois in the fourth quarter worth approximately $26,472,000. LSV Asset Management lifted its position in shares of Owens-Illinois by 38.9% in the fourth quarter. LSV Asset Management now owns 4,343,542 shares of the industrial products company’s stock worth $96,296,000 after purchasing an additional 1,216,999 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Owens-Illinois by 7.5% in the first quarter. Vanguard Group Inc. now owns 16,401,514 shares of the industrial products company’s stock worth $334,263,000 after purchasing an additional 1,139,389 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Owens-Illinois by 145.9% in the third quarter. Principal Financial Group Inc. now owns 1,714,934 shares of the industrial products company’s stock worth $43,148,000 after purchasing an additional 1,017,414 shares in the last quarter. 95.20% of the stock is owned by institutional investors.

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About Owens-Illinois

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

Analyst Recommendations for Owens-Illinois (NYSE:OI)

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