Owens-Illinois, Inc. (NYSE:OI) had its price objective raised by Bank of America Corporation from $29.00 to $30.00 in a research note released on Wednesday morning. Bank of America Corporation currently has a buy rating on the industrial products company’s stock.
Other equities analysts have also issued research reports about the company. Royal Bank Of Canada reissued a hold rating and issued a $22.00 target price on shares of Owens-Illinois in a report on Thursday, July 6th. BidaskClub raised Owens-Illinois from a hold rating to a buy rating in a report on Thursday, June 29th. Robert W. Baird reissued a hold rating and issued a $25.00 target price on shares of Owens-Illinois in a report on Friday, September 1st. UBS Group AG began coverage on Owens-Illinois in a report on Tuesday, September 5th. They issued a neutral rating and a $26.00 target price on the stock. Finally, BMO Capital Markets reissued a hold rating and issued a $25.00 target price on shares of Owens-Illinois in a report on Sunday, August 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $26.45.
Shares of Owens-Illinois (NYSE OI) traded up 1.15% on Wednesday, hitting $23.73. The stock had a trading volume of 1,914,037 shares. Owens-Illinois has a 12-month low of $17.31 and a 12-month high of $25.90. The stock has a 50 day moving average of $24.88 and a 200 day moving average of $23.50. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 17.20 and a beta of 1.49.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a return on equity of 72.87% and a net margin of 3.59%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. Equities analysts predict that Owens-Illinois will post $2.63 earnings per share for the current fiscal year.
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In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the transaction, the senior vice president now owns 23,954 shares of the company’s stock, valued at $574,177.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the transaction, the insider now directly owns 34,890 shares in the company, valued at approximately $869,807.70. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Owens-Illinois by 7.5% during the first quarter. Vanguard Group Inc. now owns 16,401,514 shares of the industrial products company’s stock worth $334,263,000 after buying an additional 1,139,389 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Owens-Illinois by 3.5% during the second quarter. BlackRock Inc. now owns 15,167,509 shares of the industrial products company’s stock worth $362,806,000 after buying an additional 512,032 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Owens-Illinois by 1.6% during the second quarter. Great West Life Assurance Co. Can now owns 7,939,045 shares of the industrial products company’s stock worth $189,411,000 after buying an additional 125,665 shares during the last quarter. State Street Corp grew its holdings in shares of Owens-Illinois by 4.9% during the first quarter. State Street Corp now owns 7,353,692 shares of the industrial products company’s stock worth $149,869,000 after buying an additional 343,321 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its holdings in shares of Owens-Illinois by 30.7% during the second quarter. Thrivent Financial For Lutherans now owns 2,929,740 shares of the industrial products company’s stock worth $70,080,000 after buying an additional 688,720 shares during the last quarter. 94.96% of the stock is currently owned by institutional investors.
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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