Owens-Illinois, Inc. (NYSE:OI) had its price objective increased by Robert W. Baird from $25.00 to $27.00 in a report issued on Wednesday, October 25th. They currently have a neutral rating on the industrial products company’s stock.
A number of other brokerages have also commented on OI. Royal Bank of Canada set a $27.00 target price on Owens-Illinois and gave the company a hold rating in a research report on Tuesday, October 17th. BMO Capital Markets reaffirmed a hold rating and set a $25.00 target price on shares of Owens-Illinois in a research note on Sunday, August 27th. Zacks Investment Research downgraded Owens-Illinois from a buy rating to a sell rating in a research note on Tuesday, October 3rd. BidaskClub raised Owens-Illinois from a hold rating to a buy rating in a research note on Thursday, June 29th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $27.00 target price (up from $26.00) on shares of Owens-Illinois in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $26.45.
Shares of Owens-Illinois (OI) opened at $23.31 on Wednesday. Owens-Illinois has a 52 week low of $17.31 and a 52 week high of $25.90. The firm has a market capitalization of $3,804.21, a PE ratio of 8.98, a PEG ratio of 1.22 and a beta of 1.53. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 5.73.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. research analysts forecast that Owens-Illinois will post 2.64 EPS for the current fiscal year.
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In other Owens-Illinois news, insider Timothy M. Connors sold 3,500 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total value of $83,510.00. Following the completion of the sale, the insider now directly owns 19,624 shares in the company, valued at approximately $468,228.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the company’s stock in a transaction on Friday, September 8th. The shares were 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 owns 23,954 shares of the company’s stock, valued at $574,177.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,337 shares of company stock valued at $252,651. 1.50% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its holdings in Owens-Illinois by 104.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after buying an additional 2,366 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Owens-Illinois during the 2nd quarter worth $113,000. Acrospire Investment Management LLC grew its holdings in shares of Owens-Illinois by 163.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 4,169 shares during the period. Flinton Capital Management LLC grew its holdings in shares of Owens-Illinois by 74.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 3,072 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Owens-Illinois by 61.2% during the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 2,799 shares during the period. Institutional investors own 94.90% 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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