Owens-Illinois (NYSE:OI) Given New $11.00 Price Target at KeyCorp

Share on StockTwits

Owens-Illinois (NYSE:OI) had its price objective lowered by KeyCorp from $16.00 to $11.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an underweight rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on the company. UFS upgraded Owens-Illinois from a neutral rating to a buy rating in a report on Tuesday, April 30th. Wells Fargo & Co raised shares of Owens-Illinois from a market perform rating to an outperform rating and upped their price target for the company from $20.00 to $24.00 in a research report on Wednesday, May 15th. ValuEngine cut shares of Owens-Illinois from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Finally, Bank of America cut shares of Owens-Illinois from a buy rating to a neutral rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of Hold and an average target price of $18.89.

NYSE OI opened at $11.95 on Friday. The firm has a market capitalization of $1.92 billion, a P/E ratio of 4.39, a price-to-earnings-growth ratio of 0.73 and a beta of 1.41. Owens-Illinois has a twelve month low of $11.80 and a twelve month high of $20.78. The firm has a fifty day moving average of $16.69. The company has a quick ratio of 0.83, a current ratio of 1.53 and a debt-to-equity ratio of 5.72.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.07). The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.76 billion. Owens-Illinois had a net margin of 3.76% and a return on equity of 39.73%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. Sell-side analysts anticipate that Owens-Illinois will post 2.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.67%. Owens-Illinois’s dividend payout ratio (DPR) is currently 7.35%.

A number of institutional investors and hedge funds have recently modified their holdings of OI. Norges Bank bought a new stake in Owens-Illinois during the fourth quarter valued at $21,545,000. FMR LLC boosted its position in shares of Owens-Illinois by 33.0% during the 4th quarter. FMR LLC now owns 1,567,548 shares of the industrial products company’s stock worth $27,025,000 after purchasing an additional 389,051 shares in the last quarter. LSV Asset Management boosted its position in shares of Owens-Illinois by 6.4% during the 1st quarter. LSV Asset Management now owns 5,357,391 shares of the industrial products company’s stock worth $101,683,000 after purchasing an additional 324,030 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Owens-Illinois by 45.6% during the 4th quarter. Bank of America Corp DE now owns 851,705 shares of the industrial products company’s stock worth $14,683,000 after purchasing an additional 266,777 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Owens-Illinois by 16.5% during the 1st quarter. Bank of Montreal Can now owns 1,040,527 shares of the industrial products company’s stock worth $19,749,000 after purchasing an additional 147,331 shares in the last quarter. 92.27% of the stock is currently owned by institutional investors and hedge funds.

Owens-Illinois Company Profile

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

Further Reading: Do back-end load funds outperform no-load funds?

Analyst Recommendations for Owens-Illinois (NYSE:OI)

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



Latest News

Atlantica Yield  Rating Lowered to Buy at BidaskClub
Atlantica Yield Rating Lowered to Buy at BidaskClub
Baozun  Raised to “Hold” at Zacks Investment Research
Baozun Raised to “Hold” at Zacks Investment Research
Brookfield Property Partners  Stock Rating Upgraded by BidaskClub
Brookfield Property Partners Stock Rating Upgraded by BidaskClub
Boston Private Financial  Rating Increased to Sell at ValuEngine
Boston Private Financial Rating Increased to Sell at ValuEngine
Quadrise Fuels International’s  House Stock Rating Reiterated at Shore Capital
Quadrise Fuels International’s House Stock Rating Reiterated at Shore Capital
Apollo Medical  Rating Lowered to Hold at ValuEngine
Apollo Medical Rating Lowered to Hold at ValuEngine


© 2006-2019 Ticker Report