Barclays Cuts Owens-Illinois (OI) Price Target to $20.00

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Owens-Illinois (NYSE:OI) had its price objective lowered by Barclays from $25.00 to $20.00 in a research note issued to investors on Wednesday morning. Barclays currently has an equal weight rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the company. TheStreet upgraded Owens-Illinois from a c rating to a b- rating in a research note on Monday, April 23rd. Wells Fargo & Co upgraded Owens-Illinois from an underperform rating to a market perform rating in a research note on Thursday, May 24th. Zacks Investment Research lowered Owens-Illinois from a hold rating to a sell rating in a research note on Friday, June 22nd. ValuEngine lowered Owens-Illinois from a hold rating to a sell rating in a research note on Wednesday, May 2nd. Finally, Robert W. Baird lowered their price objective on Owens-Illinois from $27.00 to $25.00 and set a neutral rating for the company in a research note on Wednesday, April 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Owens-Illinois has an average rating of Hold and a consensus price target of $25.08.

Shares of Owens-Illinois opened at $16.81 on Wednesday, according to Marketbeat Ratings. Owens-Illinois has a fifty-two week low of $16.22 and a fifty-two week high of $25.90. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 5.04. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 1.09 and a beta of 1.38.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Monday, April 23rd. The industrial products company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Owens-Illinois had a return on equity of 46.76% and a net margin of 3.30%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the firm earned $0.58 EPS. Owens-Illinois’s quarterly revenue was up 7.5% on a year-over-year basis. equities analysts expect that Owens-Illinois will post 2.78 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Owens-Illinois in the 1st quarter worth approximately $819,000. WINTON GROUP Ltd acquired a new position in shares of Owens-Illinois in the 1st quarter worth approximately $5,875,000. Xact Kapitalforvaltning AB grew its position in shares of Owens-Illinois by 50.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 21,469 shares of the industrial products company’s stock worth $465,000 after acquiring an additional 7,200 shares in the last quarter. Royal Bank of Canada grew its position in shares of Owens-Illinois by 739.3% in the 1st quarter. Royal Bank of Canada now owns 714,180 shares of the industrial products company’s stock worth $15,470,000 after acquiring an additional 629,083 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Owens-Illinois by 7.5% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 316,671 shares of the industrial products company’s stock worth $6,859,000 after acquiring an additional 22,000 shares in the last quarter. Institutional investors own 94.32% of the company’s stock.

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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