Owens-Illinois, Inc. (NYSE:OI)‘s stock had its “neutral” rating restated by equities researchers at Royal Bank Of Canada in a research report issued on Tuesday.
A number of other brokerages also recently weighed in on OI. BidaskClub upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. ValuEngine upgraded shares of Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $26.00 price objective (up previously from $20.00) on shares of Owens-Illinois in a research report on Friday, July 14th. Barclays PLC upped their price objective on shares of Owens-Illinois from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $25.00 price objective on shares of Owens-Illinois in a research report on Sunday, August 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $25.60.
Owens-Illinois (NYSE OI) traded down 0.8041% during midday trading on Tuesday, hitting $25.4735. The stock had a trading volume of 128,268 shares. Owens-Illinois has a 52-week low of $16.80 and a 52-week high of $25.90. The firm has a 50-day moving average of $24.63 and a 200 day moving average of $23.15. The firm has a market capitalization of $4.15 billion, a P/E ratio of 18.4591 and a beta of 1.49.
Owens-Illinois (NYSE:OI) last posted its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Owens-Illinois will post $2.63 EPS for the current year.
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In related news, insider Sergio B.O. Galindo sold 5,477 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the sale, the insider now owns 34,890 shares of the company’s stock, valued at approximately $869,807.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $23.97, for a total transaction of $32,599.20. Following the sale, the senior vice president now directly owns 23,954 shares of the company’s stock, valued at approximately $574,177.38. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in OI. Sei Investments Co. grew its stake in Owens-Illinois by 3,171.6% during the 1st quarter. Sei Investments Co. now owns 59,315 shares of the industrial products company’s stock valued at $1,209,000 after acquiring an additional 57,502 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Owens-Illinois by 28.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 20,535 shares of the industrial products company’s stock valued at $420,000 after buying an additional 4,598 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Owens-Illinois by 141.3% in the 1st quarter. JPMorgan Chase & Co. now owns 162,885 shares of the industrial products company’s stock valued at $3,319,000 after buying an additional 95,373 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Owens-Illinois by 1.8% in the 1st quarter. OppenheimerFunds Inc. now owns 98,678 shares of the industrial products company’s stock valued at $2,011,000 after buying an additional 1,727 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Owens-Illinois by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 666,544 shares of the industrial products company’s stock valued at $13,585,000 after buying an additional 16,222 shares during the period. 95.06% of the stock is owned by institutional investors.
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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