TheStreet lowered shares of Owens-Illinois, Inc. (NYSE:OI) from a b rating to a c+ rating in a research note published on Wednesday, October 25th.
A number of other analysts also recently issued reports on OI. BidaskClub downgraded shares of Owens-Illinois from a hold rating to a sell rating in a report on Saturday, August 12th. Robert W. Baird boosted their price objective on shares of Owens-Illinois from $25.00 to $27.00 and gave the company a neutral rating in a report on Wednesday, October 25th. Bank of America Corporation boosted their price objective on shares of Owens-Illinois from $29.00 to $30.00 and gave the company a buy rating in a report on Wednesday, October 25th. Jefferies Group LLC reaffirmed a hold rating and set a $27.00 price target (up previously from $26.00) on shares of Owens-Illinois in a report on Wednesday, August 2nd. Finally, ValuEngine raised shares of Owens-Illinois from a buy rating to a strong-buy rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $26.45.
Shares of Owens-Illinois (NYSE:OI) traded down $0.03 on Wednesday, reaching $23.31. 1,053,300 shares of the company were exchanged, compared to its average volume of 1,402,664. Owens-Illinois has a twelve month low of $17.31 and a twelve month high of $25.90. The firm has a market cap of $3,799.32, a price-to-earnings ratio of 8.97, a P/E/G ratio of 1.21 and a beta of 1.53. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.74 and a current ratio of 1.23.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $0.68 EPS. Owens-Illinois’s quarterly revenue was up 5.1% on a year-over-year basis. analysts anticipate that Owens-Illinois will post 2.64 earnings per share for the current year.
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In other Owens-Illinois news, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $24.93, for a total value of $136,541.61. Following the completion of the sale, the insider now directly owns 34,890 shares in the company, valued at $869,807.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the completion of the sale, the senior vice president now owns 23,954 shares of the company’s stock, valued at $574,177.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,337 shares of company stock valued at $252,651. 1.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale lifted its stake in shares of Owens-Illinois by 104.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after buying an additional 2,366 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Owens-Illinois in the second quarter valued at $113,000. Acrospire Investment Management LLC lifted its stake in shares of Owens-Illinois by 163.8% in the second quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after buying an additional 4,169 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of Owens-Illinois by 74.4% during the second quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 3,072 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Owens-Illinois by 61.2% during the third quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 2,799 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
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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