Why You Should Dump Owens-Illinois (OI) From Your Portfolio

 | Jun 24, 2018 09:33PM ET

If you are still holding on to shares of Owens-Illinois, Inc. (NYSE:OI) in your portfolio, it is time you dump those as chances of favorable returns in the near term appear bleak. Owens-Illinois has witnessed significant price decline in the year-to-date period owing persistent fall of beer consumption in domestic market and high debt levels.
Similar to wise buying decisions, offloading certain underperformers at the right time helps maximize portfolio returns. Further, negative earnings estimate revisions for the current quarter and the fiscal indicate bleak prospects for the company in near term. Further, the company’s Zacks Rank #4 (Sell) only reflects its innate weakness.
Shares of this manufacturer of glass containers have plunged approximately 24% year to date, faring worse than the Zacks Investment Research
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