Owens-Illinois (NYSE:OI) PT Lowered to $14.00 at Citigroup

Owens-Illinois (NYSE:OI) had its target price cut by Citigroup from $19.00 to $14.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research firms also recently commented on OI. Wells Fargo & Co raised shares of Owens-Illinois from a market perform rating to an outperform rating and boosted their target price for the stock from $20.00 to $24.00 in a report on Wednesday, May 15th. ValuEngine downgraded shares of Owens-Illinois from a sell rating to a strong sell rating in a research note on Thursday. Bank of America downgraded shares of Owens-Illinois from a buy rating to a neutral rating in a research note on Friday. UFS raised shares of Owens-Illinois from a neutral rating to a buy rating in a research note on Tuesday, April 30th. Finally, KeyCorp decreased their price target on shares of Owens-Illinois from $16.00 to $11.00 and set an underweight rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Owens-Illinois has a consensus rating of Hold and a consensus target price of $18.89.

Shares of OI stock traded down $0.45 during mid-day trading on Friday, hitting $11.93. The company had a trading volume of 96,987 shares, compared to its average volume of 1,110,700. Owens-Illinois has a 52-week low of $12.35 and a 52-week high of $20.78. The company has a 50 day simple moving average of $16.98. The company has a debt-to-equity ratio of 5.72, a current ratio of 1.53 and a quick ratio of 0.83. The stock has a market capitalization of $1.92 billion, a P/E ratio of 4.38, a P/E/G ratio of 0.73 and a beta of 1.41.

Owens-Illinois (NYSE:OI) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.07). Owens-Illinois had a return on equity of 39.73% and a net margin of 3.76%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $0.77 EPS. Owens-Illinois’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts expect that Owens-Illinois will post 2.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, August 29th. Owens-Illinois’s payout ratio is 7.35%.

Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in Owens-Illinois during the first quarter valued at $25,000. First Quadrant L P CA bought a new position in Owens-Illinois during the second quarter valued at $25,000. North Star Investment Management Corp. grew its holdings in shares of Owens-Illinois by 105.7% in the first quarter. North Star Investment Management Corp. now owns 2,160 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 1,110 shares during the last quarter. Zions Bancorporation N.A. bought a new position in shares of Owens-Illinois in the first quarter worth about $46,000. Finally, Legacy Advisors LLC bought a new position in shares of Owens-Illinois in the first quarter worth about $48,000. Institutional investors and hedge funds own 92.27% of the company’s stock.

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.

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Analyst Recommendations for Owens-Illinois (NYSE:OI)

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