Investors of O-I have been informed that the company has been downgraded by investment analysts at Barclays from an ‘overweight’ rating to an ‘equal weight’ rating. A number of other analysts have also recently weighed in on O-I.
Owens-Illinois (O-I) was downgraded by investment analysts at Barclays from an ‘overweight’ rating to an ‘equal weight’ rating in a note issued to investors on 11 December.
O-I has a 52 week low of USD 23.31 and a 52 week high of USD 35.95. The stock’s 50-day moving average is USD 25.67 and its 200-day moving average is USD 29.67. The company has a market cap of USD 4.100 billion and a price-to-earnings ratio of 32.82.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on 28 October. The company reported USD 0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of USD 0.74 by USD 0.01. The company had revenue of USD 1.75 billion for the quarter, compared to the consensus estimate of USD 1.77 billion. During the same quarter in the previous year, the company posted USD 0.79 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts expect that Owens-Illinois will post USD 2.63 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on OI. Analysts at Bank of America cut their price target on shares of Owens-Illinois from USD 27.00 to USD 26.00 in a research note on Tuesday. They now have an ‘underperform’ rating on the stock. Separately, analysts at BMO Capital Markets downgraded shares of Owens-Illinois from an ‘outperform’ rating to a ‘market perform’ rating in a research note on 20 November. Analysts at Citigroup Inc. reiterated a ‘neutral’ rating on shares of Owens-Illinois in a research note on 4 November, and now have a USD 28.00 price target on the stock, up previously from USD 27.00. One analyst has rated the stock with a sell rating, 11 have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Owens-Illinois has an average rating of ‘Hold’ and an average price target of USD 29.70.