Owens-Illinois, Inc. (NYSE:OI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, October 25th.
According to Zacks, “Owens-Illinois’ third-quarter 2017 top and bottom-line improved year-over-year and also beat the respective Zacks Consensus Estimates. The mid-point of the 2017 EPS guidance of $2.65-$2.65 reflects a year-over-year growth of 14%. The company will benefit from the extension and expansion of joint venture (JV) with Constellation Brands, Inc. This investment will allow both companies to realize attractive opportunities in Mexican beer exports to the United States. The buyout of Vitro's food and beverage business will provide a competitive edge in the attractive and growing glass segment of the packaging market in Mexico. The stock has outperformed the industry year to date. Improving conditions in Latin America and ongoing benefits from Total System Cost initiatives in Europe will help mitigate sluggish sales in North America and lower margins in Asia Pacific. Uncertainty in macroeconomic conditions and high debt levels remain headwinds.”
Several other analysts have also recently issued reports on the stock. UBS AG reaffirmed a “neutral” rating and set a $27.00 price objective (up previously from $26.00) on shares of Owens-Illinois in a research note on Tuesday, October 24th. Royal Bank of Canada set a $27.00 price objective on shares of Owens-Illinois and gave the company a “hold” rating in a research note on Tuesday, October 17th. ValuEngine raised shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Robert W. Baird reaffirmed a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a research note on Thursday, October 12th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $25.00 price target on shares of Owens-Illinois in a research note on Sunday, August 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Owens-Illinois has an average rating of “Hold” and a consensus target price of $26.45.
Owens-Illinois (NYSE OI) opened at $23.31 on Wednesday. The stock has a market cap of $3,804.21, a price-to-earnings ratio of 8.98, a P/E/G ratio of 1.22 and a beta of 1.53. Owens-Illinois has a 1 year low of $17.31 and a 1 year high of $25.90. 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 data on Monday, October 23rd. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. equities analysts anticipate 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 firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $23.86, for a total transaction of $83,510.00. Following the transaction, the insider now directly owns 19,624 shares of the company’s stock, valued at approximately $468,228.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $24.93, for a total transaction of $136,541.61. Following the transaction, the insider now directly owns 34,890 shares in the company, valued at $869,807.70. The disclosure for this sale can be found here. Insiders sold a total of 10,337 shares of company stock worth $252,651 over the last ninety days. Insiders own 1.50% of the company’s stock.
Large investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Owens-Illinois by 104.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 2,366 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Owens-Illinois in the second quarter valued at about $113,000. Acrospire Investment Management LLC boosted its holdings in shares of Owens-Illinois by 163.8% in the second quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 4,169 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Owens-Illinois by 113.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its stake in shares of Owens-Illinois by 74.4% in the second quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 3,072 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.
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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