Owens-Illinois, Inc. (OI) Earns Hold Rating from KeyCorp

KeyCorp reiterated their hold rating on shares of Owens-Illinois, Inc. (NYSE:OI) in a research note published on Friday morning.

A number of other research firms have also recently commented on OI. Royal Bank Of Canada reissued a hold rating and issued a $25.00 price target on shares of Owens-Illinois in a report on Wednesday, September 6th. Bank of America Corporation boosted their price target on Owens-Illinois from $29.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, October 25th. BidaskClub cut Owens-Illinois from a hold rating to a sell rating in a report on Saturday, August 12th. Jefferies Group LLC reissued a hold rating and issued a $26.00 price target (up from $20.00) on shares of Owens-Illinois in a report on Friday, July 14th. Finally, TheStreet cut Owens-Illinois from a b rating to a c+ rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Owens-Illinois has an average rating of Hold and a consensus price target of $26.45.

Owens-Illinois (NYSE OI) opened at $23.31 on Friday. Owens-Illinois has a 12-month low of $17.31 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.74 and a current ratio of 1.23. The firm has a market capitalization of $3,799.32, a PE ratio of 8.97, a PEG ratio of 1.21 and a beta of 1.53.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data 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 firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. sell-side analysts predict that Owens-Illinois will post 2.64 earnings per share for the current year.

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In other news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 23,954 shares of the company’s stock, valued at approximately $574,177.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 34,890 shares in the company, valued at approximately $869,807.70. The disclosure for this sale can be found here. Insiders have sold a total of 10,337 shares of company stock worth $252,651 over the last ninety days. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of Owens-Illinois by 104.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 2,366 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Owens-Illinois during the 2nd quarter valued at approximately $113,000. Acrospire Investment Management LLC increased its position in shares of Owens-Illinois by 163.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 4,169 shares during the last quarter. Flinton Capital Management LLC increased its position in shares of Owens-Illinois by 74.4% during the 2nd 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 during the last quarter. Finally, Sei Investments Co. increased its position in shares of Owens-Illinois by 61.2% during the 3rd 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 during the last quarter. 95.95% of the stock is currently owned by hedge funds and other institutional investors.

About Owens-Illinois

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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