Owens-Illinois, Inc. (OI) Receives $26.40 Average PT from Analysts
Shares of Owens-Illinois, Inc. (NYSE:OI) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $26.40.
Several equities analysts have recently weighed in on OI shares. 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 report on Tuesday, October 17th. BMO Capital Markets reissued a “hold” rating and issued a $25.00 price objective on shares of Owens-Illinois in a research report on Sunday, August 27th. Zacks Investment Research lowered shares of Owens-Illinois from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Bank of America Corporation increased their price objective on shares of Owens-Illinois from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Robert W. Baird raised their price target on shares of Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th.
In related news, insider Sergio B.O. Galindo sold 5,477 shares of Owens-Illinois stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the sale, the insider now directly owns 34,890 shares in the company, valued at approximately $869,807.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Timothy M. Connors sold 3,500 shares of Owens-Illinois stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total transaction of $83,510.00. Following the sale, the insider now owns 19,624 shares in the company, valued at $468,228.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,337 shares of company stock worth $252,651. 1.50% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale boosted its position in Owens-Illinois by 104.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock worth $110,000 after buying an additional 2,366 shares during the period. Acadian Asset Management LLC bought a new position in Owens-Illinois during the 2nd quarter worth approximately $113,000. Acrospire Investment Management LLC raised its holdings in 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 last quarter. Flinton Capital Management LLC raised its holdings in 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 last quarter. Finally, Sei Investments Co. raised its holdings in 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 last quarter. Institutional investors and hedge funds own 95.95% of the company’s stock.
Owens-Illinois (OI) traded up $0.19 during midday trading on Monday, reaching $23.21. 706,342 shares of the company’s stock traded hands, compared to its average volume of 1,271,951. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74. Owens-Illinois has a 1 year low of $17.31 and a 1 year high of $25.90. The company has a market capitalization of $3,765.09, a price-to-earnings ratio of 8.88, a P/E/G ratio of 1.20 and a beta of 1.53.
Owens-Illinois (NYSE:OI) last posted 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. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts expect that Owens-Illinois will post 2.64 EPS for the current fiscal year.
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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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