Owens-Illinois, Inc. (NYSE:OI)‘s stock had its “hold” rating reaffirmed by analysts at BMO Capital Markets in a research report issued to clients and investors on Sunday. They presently have a $25.00 price target on the industrial products company’s stock. BMO Capital Markets’ target price suggests a potential upside of 4.08% from the stock’s previous close.
A number of other equities research analysts have also commented on OI. BidaskClub lowered Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Barclays PLC increased their price target on Owens-Illinois from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “hold” rating and set a $27.00 price target (up from $26.00) on shares of Owens-Illinois in a research report on Wednesday, August 2nd. ValuEngine lowered Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 3rd. Finally, Zacks Investment Research lowered Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.38.
Shares of Owens-Illinois (NYSE:OI) opened at 24.02 on Friday. Owens-Illinois has a 1-year low of $16.80 and a 1-year high of $25.02. The stock has a market cap of $3.91 billion, a PE ratio of 17.41 and a beta of 1.50. The stock’s 50 day moving average price is $24.18 and its 200 day moving average price is $22.02.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. Owens-Illinois’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Owens-Illinois will post $2.63 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in OI. Morgan Stanley raised its position in Owens-Illinois by 9.8% in the first quarter. Morgan Stanley now owns 710,399 shares of the industrial products company’s stock valued at $14,478,000 after buying an additional 63,586 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Owens-Illinois by 79.0% in the first quarter. Canada Pension Plan Investment Board now owns 110,100 shares of the industrial products company’s stock valued at $2,244,000 after buying an additional 48,600 shares in the last quarter. State Treasurer State of Michigan raised its position in Owens-Illinois by 0.9% in the first quarter. State Treasurer State of Michigan now owns 65,900 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 600 shares in the last quarter. BlackRock Inc. raised its position in Owens-Illinois by 16,329.5% in the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock valued at $298,679,000 after buying an additional 14,566,275 shares in the last quarter. Finally, James Investment Research Inc. bought a new position in Owens-Illinois during the first quarter valued at about $149,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.
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.
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