Owens-Illinois (OI) Reaches New 1-Year Low on Analyst Downgrade

Shares of Owens-Illinois Inc (NYSE:OI) reached a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $25.00 to $20.00. Barclays currently has an equal weight rating on the stock. Owens-Illinois traded as low as $16.61 and last traded at $16.81, with a volume of 44687 shares. The stock had previously closed at $16.80.

OI has been the topic of several other reports. Deutsche Bank upgraded Owens-Illinois from a “hold” rating to a “buy” rating and upped their target price for the company from $19.45 to $25.90 in a report on Thursday, April 26th. Zacks Investment Research cut Owens-Illinois from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Bank of America cut Owens-Illinois from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a report on Wednesday, April 25th. Wells Fargo & Co reduced their target price on Owens-Illinois from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Wednesday, April 25th. Finally, ValuEngine upgraded Owens-Illinois from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Owens-Illinois has an average rating of “Hold” and a consensus price target of $25.08.

Institutional investors and hedge funds have recently modified their holdings of the business. TLP Group LLC lifted its stake in Owens-Illinois by 188,750.0% in the first quarter. TLP Group LLC now owns 7,554 shares of the industrial products company’s stock valued at $164,000 after buying an additional 7,550 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Owens-Illinois during the fourth quarter worth approximately $188,000. Hourglass Capital LLC acquired a new position in shares of Owens-Illinois during the first quarter worth approximately $210,000. Eagle Asset Management Inc. acquired a new position in shares of Owens-Illinois during the fourth quarter worth approximately $221,000. Finally, We Are One Seven LLC acquired a new position in shares of Owens-Illinois during the fourth quarter worth approximately $221,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

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 stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 6.29, a P/E/G ratio of 1.12 and a beta of 1.38.

Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, April 23rd. The industrial products company reported $0.59 earnings per share for the quarter, topping 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 company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. Owens-Illinois’s revenue for the quarter was up 7.5% on a year-over-year basis. equities research analysts predict that Owens-Illinois Inc will post 2.78 EPS for the current fiscal year.

Owens-Illinois Company Profile

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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