Owens-Illinois, Inc. (NYSE:OI) Downgraded by BidaskClub to Hold

Owens-Illinois, Inc. (NYSE:OI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, July 31st.

Other equities research analysts also recently issued reports about the company. Barclays PLC upped their target price on Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Zacks Investment Research cut shares of Owens-Illinois from a “buy” rating to a “hold” rating in a report on Friday, May 12th. ValuEngine cut shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 3rd. BMO Capital Markets restated a “hold” rating and set a $20.00 price target on shares of Owens-Illinois in a report on Friday, April 21st. Finally, Citigroup Inc. decreased their price target on shares of Owens-Illinois from $28.00 to $24.00 and set an “underweight” rating for the company in a report on Friday, April 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.44.

Owens-Illinois (NYSE OI) remained flat at $23.45 on Monday. 883,660 shares of the company traded hands. The company has a market capitalization of $3.82 billion, a P/E ratio of 16.99 and a beta of 1.50. Owens-Illinois has a 52-week low of $16.80 and a 52-week high of $25.02. The company’s 50 day moving average price is $24.14 and its 200-day moving average price is $21.70.

Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. Owens-Illinois’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts predict that Owens-Illinois will post $2.63 EPS for the current fiscal year.

WARNING: “Owens-Illinois, Inc. (NYSE:OI) Downgraded by BidaskClub to Hold” was first published by BNB Daily and is owned by of BNB Daily. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.baseball-news-blog.com/2017/08/13/owens-illinois-inc-nyseoi-lowered-to-hold-at-bidaskclub-updated.html.

A number of institutional investors have recently made changes to their positions in OI. Sigma Planning Corp boosted its position in shares of Owens-Illinois by 0.5% in the second quarter. Sigma Planning Corp now owns 21,460 shares of the industrial products company’s stock worth $513,000 after buying an additional 100 shares during the last quarter. Atria Investments LLC boosted its position in shares of Owens-Illinois by 1.3% in the second quarter. Atria Investments LLC now owns 11,342 shares of the industrial products company’s stock worth $271,000 after buying an additional 142 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Owens-Illinois by 0.9% in the second quarter. Advisor Group Inc. now owns 16,417 shares of the industrial products company’s stock worth $393,000 after buying an additional 150 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Owens-Illinois by 1.5% in the second quarter. Contravisory Investment Management Inc. now owns 13,982 shares of the industrial products company’s stock worth $334,000 after buying an additional 203 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Owens-Illinois by 2.4% in the second quarter. Teacher Retirement System of Texas now owns 12,347 shares of the industrial products company’s stock worth $295,000 after buying an additional 287 shares during the last quarter. 95.29% of the stock is currently owned by hedge funds and other institutional investors.

Owens-Illinois Company Profile

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.

Analyst Recommendations for Owens-Illinois (NYSE:OI)

Receive News & Ratings for Owens-Illinois Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens-Illinois Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply