Owens-Illinois, Inc. (OI) Receives $26.40 Average PT from Brokerages
Shares of Owens-Illinois, Inc. (NYSE:OI) have earned a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $26.40.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Owens-Illinois from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, September 21st. KeyCorp reiterated a “hold” rating on shares of Owens-Illinois in a research report on Monday, October 30th. UBS assumed coverage on Owens-Illinois in a research report on Tuesday, September 5th. They set a “neutral” rating and a $26.00 price target on the stock. Royal Bank of Canada reiterated a “neutral” rating on shares of Owens-Illinois in a research report on Tuesday, October 10th. Finally, ValuEngine cut Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 22nd.
Owens-Illinois (NYSE OI) traded down $0.03 on Friday, reaching $23.59. The company had a trading volume of 941,559 shares, compared to its average volume of 1,258,661. Owens-Illinois has a 12-month low of $17.31 and a 12-month 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. The firm has a market cap of $3,849.85, a PE ratio of 9.08, a P/E/G ratio of 1.28 and a beta of 1.52.
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, beating the 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 company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. equities analysts predict that Owens-Illinois will post 2.64 EPS for the current fiscal year.
In other news, insider Timothy M. Connors sold 3,500 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 19,624 shares of the company’s stock, valued at approximately $468,228.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OI. DekaBank Deutsche Girozentrale boosted its stake in shares of 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 acquiring an additional 2,366 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Owens-Illinois during the 2nd quarter worth $113,000. Acrospire Investment Management LLC boosted its stake 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 acquiring an additional 4,169 shares in the last quarter. Flinton Capital Management LLC boosted its position 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 worth $172,000 after buying an additional 3,072 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Owens-Illinois by 61.2% in the third quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after buying an additional 2,799 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.
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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