Owens-Illinois, Inc. (OI) Receives “Hold” Rating from KeyCorp

Owens-Illinois, Inc. (NYSE:OI)‘s stock had its “hold” rating restated by stock analysts at KeyCorp in a note issued to investors on Friday.

OI has been the subject of a number of other research reports. ValuEngine upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th. Zacks Investment Research lowered Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. UBS AG assumed coverage on Owens-Illinois in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $26.00 price target for the company. Robert W. Baird increased their price target on Owens-Illinois from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $24.00 price target on shares of Owens-Illinois in a research report on Friday, July 14th. 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. Owens-Illinois presently has an average rating of “Hold” and an average target price of $26.45.

Owens-Illinois (OI) traded down $0.03 during trading hours on Friday, reaching $23.31. The company had a trading volume of 1,053,300 shares, compared to its average volume of 1,274,292. The firm has a market capitalization of $3,804.21, a price-to-earnings ratio of 8.98, a P/E/G ratio of 1.22 and a beta of 1.53. Owens-Illinois has a 1 year low of $17.31 and a 1 year high of $25.90. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 5.73.

Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $0.68 EPS. Owens-Illinois’s revenue for the quarter was up 5.1% on a year-over-year basis. equities analysts anticipate that Owens-Illinois will post 2.64 earnings per share for the current fiscal year.

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In other news, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the sale, the insider now directly owns 34,890 shares of the company’s stock, valued at approximately $869,807.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the sale, the senior vice president now directly owns 23,954 shares of the company’s stock, valued at $574,177.38. The disclosure for this sale can be found here. Insiders have sold a total of 10,337 shares of company stock valued at $252,651 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of OI. FMR LLC raised its stake in shares of Owens-Illinois by 918.1% during the 1st quarter. FMR LLC now owns 1,053,180 shares of the industrial products company’s stock worth $21,464,000 after purchasing an additional 949,734 shares in the last quarter. Morgan Stanley raised its stake in shares of Owens-Illinois by 9.8% during the 1st quarter. Morgan Stanley now owns 710,399 shares of the industrial products company’s stock worth $14,478,000 after purchasing an additional 63,586 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Owens-Illinois by 2.8% during the 2nd quarter. Capstone Asset Management Co. now owns 18,614 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 510 shares in the last quarter. Atria Investments LLC raised its stake in shares of Owens-Illinois by 1.3% during the 2nd quarter. Atria Investments LLC now owns 11,342 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 142 shares in the last quarter. Finally, James Investment Research Inc. raised its stake in shares of Owens-Illinois by 2,496.9% during the 2nd quarter. James Investment Research Inc. now owns 190,225 shares of the industrial products company’s stock worth $4,550,000 after purchasing an additional 182,900 shares in the last quarter. 94.90% of the stock is owned by 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)

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