Owens-Illinois Inc. (OI) Earns Sector Perform Rating from Analysts at Royal Bank Of Canada
Equities researchers at Royal Bank Of Canada started coverage on shares of Owens-Illinois Inc. (NYSE:OI) in a note issued to investors on Friday. The firm set a “sector perform” rating and a $18.00 price target on the stock. Royal Bank Of Canada’s price objective suggests a potential downside of 1.42% from the company’s current price.
A number of other equities analysts have also weighed in on OI. RBC Capital Markets began coverage on Owens-Illinois in a research note on Thursday. They set a “sector perform” rating on the stock. Jefferies Group increased their target price on Owens-Illinois from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Zacks Investment Research upgraded Owens-Illinois from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. TheStreet upgraded Owens-Illinois from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $40.00 target price on shares of Owens-Illinois in a research note on Saturday, August 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.07.
Shares of Owens-Illinois (NYSE:OI) opened at 18.26 on Friday. The stock’s 50 day moving average price is $18.06 and its 200-day moving average price is $18.00. The stock has a market capitalization of $2.96 billion, a P/E ratio of 15.23 and a beta of 2.02. Owens-Illinois has a 1-year low of $11.58 and a 1-year high of $24.05.
Owens-Illinois (NYSE:OI) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. Owens-Illinois had a positive return on equity of 67.16% and a negative net margin of 0.20%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities research analysts anticipate that Owens-Illinois will post $2.32 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Owens-Illinois by 4.1% in the second quarter. Vanguard Group Inc. now owns 14,011,872 shares of the company’s stock valued at $252,355,000 after buying an additional 552,318 shares during the period. State Street Corp increased its stake in Owens-Illinois by 8.5% in the first quarter. State Street Corp now owns 8,499,134 shares of the company’s stock valued at $135,653,000 after buying an additional 665,025 shares during the period. Orbis Allan Gray Ltd purchased a new stake in Owens-Illinois during the first quarter valued at $121,204,000. Sasco Capital Inc. CT increased its stake in Owens-Illinois by 8.4% in the first quarter. Sasco Capital Inc. CT now owns 7,478,782 shares of the company’s stock valued at $119,361,000 after buying an additional 582,472 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in Owens-Illinois by 5.3% in the second quarter. Wedge Capital Management L L P NC now owns 5,174,993 shares of the company’s stock valued at $93,202,000 after buying an additional 260,897 shares during the period. 93.89% of the stock is currently owned by institutional investors.
Owens-Illinois, Inc is engaged in the manufacturing of glass containers. The Company’s principal product lines are glass containers for the food and beverage industries. Its segments include Europe, North America, Latin America and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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