Owens-Illinois (OI) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Owens-Illinois (NYSE:OI) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other equities analysts also recently weighed in on OI. KeyCorp reissued a hold rating on shares of Owens-Illinois in a report on Friday, November 10th. Royal Bank of Canada reissued a hold rating and issued a $26.00 price target on shares of Owens-Illinois in a report on Thursday, December 14th. Zacks Investment Research downgraded shares of Owens-Illinois from a hold rating to a sell rating in a report on Tuesday, December 26th. Vertical Research raised shares of Owens-Illinois to a buy rating and set a $27.00 price target on the stock in a report on Wednesday, February 7th. Finally, Wells Fargo & Co cut their price target 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Owens-Illinois has an average rating of Hold and an average price target of $26.00.

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Owens-Illinois (NYSE:OI) opened at $22.73 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 1.06 and a debt-to-equity ratio of 5.52. The firm has a market cap of $3,707.44, a PE ratio of 8.58, a P/E/G ratio of 1.43 and a beta of 1.46. Owens-Illinois has a fifty-two week low of $19.19 and a fifty-two week high of $25.90.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.72 billion. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. analysts predict that Owens-Illinois will post 2.81 earnings per share for the current fiscal year.

Owens-Illinois announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 6th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

A number of institutional investors have recently made changes to their positions in OI. Crossmark Global Holdings Inc. bought a new stake in Owens-Illinois in the 3rd quarter valued at about $532,000. Stevens Capital Management LP bought a new stake in Owens-Illinois in the 3rd quarter valued at about $357,000. Prudential Financial Inc. raised its stake in Owens-Illinois by 15.1% in the 3rd quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock valued at $98,546,000 after acquiring an additional 513,679 shares during the period. Boston Partners bought a new stake in Owens-Illinois in the 3rd quarter valued at about $22,201,000. Finally, Principal Financial Group Inc. raised its stake in Owens-Illinois by 145.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,934 shares of the industrial products company’s stock valued at $43,148,000 after acquiring an additional 1,017,414 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

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Owens-Illinois Company Profile

Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Owens-Illinois (NYSE:OI)

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