An issue of Owens-Illinois Inc (NYSE:OI) bonds rose 1.1% against their face value during trading on Thursday. The debt issue has a 5% coupon and is set to mature on January 15, 2022. The debt is now trading at $99.50 and was trading at $99.88 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.
Several analysts have weighed in on the stock. Barclays dropped their target price on shares of Owens-Illinois from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 27th. Zacks Investment Research downgraded shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. ValuEngine downgraded shares of Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 16th. Wells Fargo & Co dropped their target price on shares of Owens-Illinois from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 25th. Finally, TheStreet raised shares of Owens-Illinois from a “c” rating to a “b-” rating in a research report on Monday, April 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Owens-Illinois presently has an average rating of “Hold” and a consensus target price of $25.08.
Shares of Owens-Illinois opened at $16.87 on Friday, according to Marketbeat Ratings. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 5.04. Owens-Illinois Inc has a 12 month low of $16.22 and a 12 month high of $25.90. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 6.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, April 23rd. The industrial products company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. Owens-Illinois had a net margin of 3.30% and a return on equity of 46.76%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. equities research analysts forecast that Owens-Illinois Inc will post 2.78 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. TLP Group LLC lifted its stake in shares of Owens-Illinois by 188,750.0% in the 1st quarter. TLP Group LLC now owns 7,554 shares of the industrial products company’s stock valued at $164,000 after purchasing an additional 7,550 shares during the period. Hourglass Capital LLC acquired a new position in shares of Owens-Illinois in the 1st quarter valued at $210,000. We Are One Seven LLC acquired a new position in shares of Owens-Illinois in the 4th quarter valued at $221,000. Sei Investments Co. lifted its stake in shares of Owens-Illinois by 56.3% in the 1st quarter. Sei Investments Co. now owns 11,665 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 4,200 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Owens-Illinois in the 4th quarter valued at $306,000. Hedge funds and other institutional investors own 94.32% 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 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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