Owens-Illinois (NYSE:OI) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
Other equities analysts have also issued research reports about the company. TheStreet raised Owens-Illinois from a “c+” rating to a “b” rating in a research note on Friday, January 25th. Zacks Investment Research upgraded Owens-Illinois from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Wednesday, January 2nd. Wells Fargo & Co dropped their target price on Owens-Illinois from $20.00 to $18.00 and set a “market perform” rating for the company in a research report on Thursday, November 1st. Barclays downgraded Owens-Illinois from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $20.00 in a research report on Monday, January 7th. Finally, Citigroup downgraded Owens-Illinois from a “buy” rating to a “neutral” rating in a research report on Monday, January 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Hold” and a consensus target price of $22.22.
Owens-Illinois stock opened at $19.71 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.84 and a debt-to-equity ratio of 5.14. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 1.03 and a beta of 1.38. Owens-Illinois has a 52 week low of $15.67 and a 52 week high of $23.45.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.68 billion. Owens-Illinois had a return on equity of 42.79% and a net margin of 3.75%. Owens-Illinois’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. Research analysts anticipate that Owens-Illinois will post 2.94 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its holdings in Owens-Illinois by 3.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,083 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 791 shares during the last quarter. Arizona State Retirement System increased its holdings in Owens-Illinois by 0.7% in the fourth quarter. Arizona State Retirement System now owns 113,904 shares of the industrial products company’s stock valued at $1,964,000 after purchasing an additional 831 shares during the last quarter. Legal & General Group Plc increased its holdings in Owens-Illinois by 0.6% in the third quarter. Legal & General Group Plc now owns 232,920 shares of the industrial products company’s stock valued at $4,376,000 after purchasing an additional 1,286 shares during the last quarter. Alpha Omega Wealth Management LLC bought a new stake in Owens-Illinois in the fourth quarter valued at about $29,000. Finally, Destination Wealth Management bought a new stake in Owens-Illinois in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 91.29% of the company’s stock.
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.
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