Owens-Illinois (OI) Receives a Sell from KeyBanc


In a report released today, Adam Josephson from KeyBanc reiterated a Sell rating on Owens-Illinois (OI), with a price target of $16. The company’s shares opened today at $17.91.

Josephson wrote:

“We’ve long thought OI’s 2019 adj. EPS guidance overly aggressive, and we continue to think that. Volume remains a problem (was down again in 1Q), and leverage (not just net debt but also asbestos and pension) remains high. Our 2019 estimate remains well below guidance and our 2020 estimate remains well below consensus. Reiterate UW on difficult fundamentals and high leverage.”

According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.2% and a 67.1% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.

The word on The Street in general, suggests a Hold analyst consensus rating for Owens-Illinois with a $20.50 average price target.

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Owens-Illinois’ market cap is currently $3.05B and has a P/E ratio of 12.33. The company has a Price to Book ratio of 3.88.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.

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Owens-Illinois, Inc. engages in the manufacture and supply of glass containers for beverages. It provides glass packaging for food items such as soft drinks, teas, juices, and pharmaceuticals. The company was founded by Michael J. Owens in 1903 and is headquartered in Perrysburg, OH.

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