ValuEngine upgraded shares of Owens-Illinois, Inc. (NYSE:OI) from a buy rating to a strong-buy rating in a report released on Friday morning.

OI has been the topic of several other reports. BMO Capital Markets reiterated a hold rating and issued a $25.00 price target on shares of Owens-Illinois in a research note on Sunday, August 27th. Zacks Investment Research lowered shares of Owens-Illinois from a buy rating to a sell rating in a research note on Tuesday, October 3rd. BidaskClub upgraded shares of Owens-Illinois from a hold rating to a buy rating in a research note on Thursday, June 29th. Jefferies Group LLC reiterated a hold rating and issued a $27.00 price target (up from $26.00) on shares of Owens-Illinois in a research note on Wednesday, August 2nd. Finally, Robert W. Baird reiterated a hold rating and issued a $25.00 price target on shares of Owens-Illinois in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $25.60.

Owens-Illinois (NYSE OI) opened at 25.63 on Friday. The stock has a market cap of $4.17 billion, a P/E ratio of 18.57 and a beta of 1.49. Owens-Illinois has a 12 month low of $16.89 and a 12 month high of $25.90. The stock has a 50 day moving average of $24.76 and a 200-day moving average of $23.25.

Owens-Illinois (NYSE:OI) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. On average, equities analysts forecast that Owens-Illinois will post $2.63 EPS for the current fiscal year.

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In other news, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s 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 transaction, the insider now directly owns 34,890 shares in the company, valued at $869,807.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $23.97, for a total transaction of $32,599.20. Following the transaction, the senior vice president now owns 23,954 shares in the company, valued at $574,177.38. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley grew its position in shares of Owens-Illinois by 9.8% during the first quarter. Morgan Stanley now owns 710,399 shares of the industrial products company’s stock worth $14,478,000 after acquiring an additional 63,586 shares during the last quarter. Contrarius Investment Management Ltd purchased a new position in shares of Owens-Illinois during the second quarter worth approximately $4,183,000. BlackRock Inc. grew its position in shares of Owens-Illinois by 16,329.5% during the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock worth $298,679,000 after acquiring an additional 14,566,275 shares during the last quarter. Arizona State Retirement System grew its position in shares of Owens-Illinois by 1.6% during the second quarter. Arizona State Retirement System now owns 68,600 shares of the industrial products company’s stock worth $1,641,000 after acquiring an additional 1,100 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of Owens-Illinois by 113.2% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 95.06% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Owens-Illinois (NYSE:OI)

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