Owens-Illinois (NYSE:OI) had its price objective cut by Wells Fargo & Co from $20.00 to $18.00 in a report issued on Thursday. They currently have a market perform rating on the industrial products company’s stock.
Several other brokerages also recently commented on OI. Zacks Investment Research downgraded Owens-Illinois from a hold rating to a sell rating in a research note on Tuesday, September 25th. Citigroup lowered their target price on Owens-Illinois from $29.00 to $25.00 and set a buy rating for the company in a research note on Tuesday, July 10th. Bank of America set a $22.00 target price on Owens-Illinois and gave the stock a hold rating in a research note on Wednesday, July 25th. Finally, Robert W. Baird lowered their target price on Owens-Illinois from $25.00 to $21.00 and set a neutral rating for the company in a research note on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $23.21.
OI stock opened at $17.45 on Thursday. The stock has a market capitalization of $2.80 billion, a P/E ratio of 6.58, a P/E/G ratio of 1.07 and a beta of 1.47. Owens-Illinois has a 52 week low of $15.67 and a 52 week high of $24.66. The company has a debt-to-equity ratio of 5.14, a current ratio of 1.32 and a quick ratio of 0.84.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.75. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.78 billion. Owens-Illinois had a return on equity of 43.27% and a net margin of 1.94%. Owens-Illinois’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, sell-side analysts predict that Owens-Illinois will post 2.73 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in OI. Point72 Hong Kong Ltd boosted its holdings in Owens-Illinois by 99,050.0% in the second quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 7,924 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Owens-Illinois in the third quarter valued at approximately $152,000. US Bancorp DE boosted its holdings in Owens-Illinois by 77.6% in the third quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 3,558 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Owens-Illinois in the second quarter valued at approximately $168,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Owens-Illinois in the third quarter valued at approximately $170,000. Institutional investors and hedge funds own 93.15% 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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