Owens-Illinois, Inc. (NYSE:OI) has been given a $27.00 price objective by equities researchers at Royal Bank Of Canada in a report released on Tuesday, October 17th. The firm currently has a “hold” rating on the industrial products company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 13.78% from the company’s previous close.
Other analysts also recently issued reports about the stock. Robert W. Baird reissued a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a research report on Thursday, October 12th. ValuEngine raised shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of Owens-Illinois from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. UBS AG assumed coverage on shares of Owens-Illinois in a report on Tuesday, September 5th. They set a “neutral” rating and a $26.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price target (up previously from $26.00) on shares of Owens-Illinois in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Owens-Illinois presently has an average rating of “Hold” and an average price target of $26.45.
Owens-Illinois (NYSE:OI) traded up 0.34% on Tuesday, reaching $23.81. 755,634 shares of the company traded hands. Owens-Illinois has a 52-week low of $17.31 and a 52-week high of $25.90. The company has a market capitalization of $3.88 billion, a PE ratio of 17.25 and a beta of 1.49. The stock has a 50-day moving average of $24.88 and a 200 day moving average of $23.50.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. Owens-Illinois’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. On average, equities analysts forecast that Owens-Illinois will post $2.63 EPS for the current year.
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In related news, SVP Moyano Giancarlo Currarino sold 1,360 shares of Owens-Illinois stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the completion of the sale, the senior vice president now directly owns 23,954 shares in the company, valued at $574,177.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sergio B.O. Galindo sold 5,477 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the transaction, the insider now owns 34,890 shares of the company’s stock, valued at $869,807.70. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Owens-Illinois by 7.5% in the first quarter. Vanguard Group Inc. now owns 16,401,514 shares of the industrial products company’s stock worth $334,263,000 after purchasing an additional 1,139,389 shares in the last quarter. BlackRock Inc. grew its stake 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 acquiring an additional 512,032 shares during the last quarter. Great West Life Assurance Co. Can grew its stake 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 acquiring an additional 125,665 shares during the last quarter. State Street Corp grew its stake 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 acquiring an additional 343,321 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake 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 acquiring an additional 688,720 shares during the last quarter. Institutional investors and hedge funds own 94.96% 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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