Owens-Illinois (OI) Given Consensus Rating of “Hold” by Analysts
Owens-Illinois (NYSE:OI) has been given a consensus rating of “Hold” by the fifteen research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.10.
A number of brokerages have issued reports on OI. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Wells Fargo reduced their target price on shares of Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday, February 9th. ValuEngine upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Vertical Research upgraded shares of Owens-Illinois to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, February 7th.
NYSE OI traded up $0.17 on Thursday, reaching $21.74. The company had a trading volume of 173,953 shares, compared to its average volume of 1,374,652. The company has a debt-to-equity ratio of 5.52, a quick ratio of 0.61 and a current ratio of 1.06. The company has a market cap of $3,513.34, a P/E ratio of 8.14, a P/E/G ratio of 1.35 and a beta of 1.40. Owens-Illinois has a 12 month low of $20.02 and a 12 month high of $25.90.
Owens-Illinois announced that its board has authorized a share repurchase program on Tuesday, February 6th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $22.57, for a total value of $268,808.70. Following the sale, the senior vice president now directly owns 28,070 shares in the company, valued at approximately $633,539.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.
A number of large investors have recently modified their holdings of OI. Sei Investments Co. grew its holdings in 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. New York State Common Retirement Fund grew its holdings in Owens-Illinois by 1.3% during the 3rd quarter. New York State Common Retirement Fund now owns 359,270 shares of the industrial products company’s stock valued at $9,039,000 after purchasing an additional 4,500 shares during the last quarter. Legal & General Group Plc grew its holdings in Owens-Illinois by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 250,840 shares of the industrial products company’s stock valued at $6,309,000 after purchasing an additional 8,210 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Owens-Illinois by 147.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 681,303 shares of the industrial products company’s stock valued at $17,183,000 after purchasing an additional 406,454 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Owens-Illinois by 4.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 802,007 shares of the industrial products company’s stock valued at $20,179,000 after purchasing an additional 36,810 shares during the last quarter. Institutional investors own 95.20% of the company’s stock.
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Owens-Illinois Company Profile
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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