Owens-Illinois Inc (NYSE:OI)’s share price traded up 12.3% during mid-day trading on Monday . The company traded as high as $8.70 and last traded at $8.69, 1,970,032 shares were traded during mid-day trading. A decline of 28% from the average session volume of 2,718,436 shares. The stock had previously closed at $7.74.
A number of equities research analysts recently issued reports on the stock. KeyCorp restated a “sell” rating and issued a $4.75 target price on shares of Owens-Illinois in a report on Thursday, March 12th. Robert W. Baird lowered their target price on shares of Owens-Illinois from $22.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. Wells Fargo & Co downgraded shares of Owens-Illinois from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $15.00 to $7.00 in a report on Friday, April 17th. Bank of America downgraded shares of Owens-Illinois from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Monday, April 13th. Finally, BMO Capital Markets reduced their target price on shares of Owens-Illinois from $13.00 to $8.00 and set a “market perform” rating on the stock in a research report on Thursday, April 9th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Owens-Illinois has an average rating of “Hold” and a consensus price target of $11.20.
The business’s 50-day moving average price is $8.24 and its 200-day moving average price is $9.64. The company has a quick ratio of 1.05, a current ratio of 1.62 and a debt-to-equity ratio of 80.46. The firm has a market capitalization of $1.36 billion, a PE ratio of 4.06, a price-to-earnings-growth ratio of 0.47 and a beta of 1.61.
A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in Owens-Illinois during the first quarter valued at approximately $25,000. Teza Capital Management LLC acquired a new position in Owens-Illinois during the first quarter valued at approximately $87,000. Garner Asset Management Corp grew its holdings in Owens-Illinois by 17.6% during the first quarter. Garner Asset Management Corp now owns 25,882 shares of the industrial products company’s stock valued at $184,000 after purchasing an additional 3,871 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in Owens-Illinois during the first quarter valued at approximately $490,000. Finally, Markel Corp grew its holdings in Owens-Illinois by 26.9% during the first quarter. Markel Corp now owns 444,000 shares of the industrial products company’s stock valued at $3,157,000 after purchasing an additional 94,000 shares during the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.
About Owens-Illinois (NYSE:OI)
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.
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