Brokerages Set Owens-Illinois Inc (OI) Price Target at $22.28

Owens-Illinois Inc (NYSE:OI) has been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $21.24.

A number of brokerages recently issued reports on OI. Bank of America upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Friday, November 9th. KeyCorp lowered shares of Owens-Illinois from a “sector weight” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a report on Monday, December 3rd. Wells Fargo & Co increased their price objective on shares of Owens-Illinois from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, November 15th. Barclays lowered shares of Owens-Illinois from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $20.00 in a report on Monday, January 7th. Finally, Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Friday, February 1st.

Shares of Owens-Illinois stock traded up $0.22 during mid-day trading on Wednesday, reaching $18.94. 33,137 shares of the stock were exchanged, compared to its average volume of 1,457,310. The stock has a market capitalization of $2.97 billion, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 0.86 and a beta of 1.38. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 5.76. Owens-Illinois has a fifty-two week low of $15.67 and a fifty-two week high of $23.45.

Owens-Illinois (NYSE:OI) last announced its earnings results on Tuesday, February 5th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. Owens-Illinois had a return on equity of 44.17% and a net margin of 3.75%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. On average, equities analysts anticipate that Owens-Illinois will post 2.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 12th. Shareholders of record on Tuesday, January 22nd will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, January 18th. Owens-Illinois’s dividend payout ratio is currently 7.35%.

A number of large investors have recently modified their holdings of OI. Voya Investment Management LLC boosted its stake in shares of Owens-Illinois by 8.2% in the 2nd quarter. Voya Investment Management LLC now owns 59,970 shares of the industrial products company’s stock valued at $1,008,000 after purchasing an additional 4,548 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Owens-Illinois by 6.6% in the 2nd quarter. California Public Employees Retirement System now owns 498,093 shares of the industrial products company’s stock valued at $8,373,000 after purchasing an additional 30,745 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Owens-Illinois in the 2nd quarter valued at about $228,000. United Services Automobile Association boosted its stake in shares of Owens-Illinois by 43.0% in the 2nd quarter. United Services Automobile Association now owns 218,439 shares of the industrial products company’s stock valued at $3,672,000 after purchasing an additional 65,700 shares during the last quarter. Finally, We Are One Seven LLC bought a new position in shares of Owens-Illinois in the 3rd quarter valued at about $211,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

About Owens-Illinois

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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Analyst Recommendations for Owens-Illinois (NYSE:OI)

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