Owens-Illinois Inc. (OI) Stock Rating Reaffirmed by Deutsche Bank AG
Owens-Illinois Inc. (NYSE:OI)‘s stock had its “hold” rating reaffirmed by analysts at Deutsche Bank AG in a research report issued on Tuesday. They currently have a $20.00 target price on the stock, up from their previous target price of $18.73. Deutsche Bank AG’s price objective would indicate a potential upside of 7.99% from the company’s previous close.
Several other analysts have also issued reports on the company. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, October 13th. Royal Bank Of Canada initiated coverage on Owens-Illinois in a research report on Friday, September 30th. They issued a “sector perform” rating and a $18.00 price objective on the stock. RBC Capital Markets initiated coverage on Owens-Illinois in a research report on Thursday, September 29th. They issued a “sector perform” rating and a $18.00 price objective on the stock. Jefferies Group restated a “hold” rating and issued a $19.00 price objective on shares of Owens-Illinois in a research report on Thursday, October 20th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $40.00 price objective on shares of Owens-Illinois in a research report on Saturday, August 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Owens-Illinois currently has an average rating of “Hold” and an average target price of $20.21.
Owens-Illinois (NYSE:OI) opened at 18.52 on Tuesday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.59 and a beta of 1.65. Owens-Illinois has a 52-week low of $11.58 and a 52-week high of $20.33. The company’s 50-day moving average price is $18.23 and its 200 day moving average price is $18.34.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Owens-Illinois had a return on equity of 86.33% and a net margin of 1.17%. The business earned $1.71 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Owens-Illinois’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts expect that Owens-Illinois will post $2.30 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of OI. JPMorgan Chase & Co. increased its stake in shares of Owens-Illinois by 6.3% in the first quarter. JPMorgan Chase & Co. now owns 185,129 shares of the company’s stock worth $2,955,000 after buying an additional 11,040 shares during the period. Geode Capital Management LLC increased its stake in shares of Owens-Illinois by 1.3% in the first quarter. Geode Capital Management LLC now owns 1,336,793 shares of the company’s stock worth $21,301,000 after buying an additional 16,946 shares during the period. Wellington Management Group LLP increased its stake in shares of Owens-Illinois by 0.3% in the first quarter. Wellington Management Group LLP now owns 1,584,941 shares of the company’s stock worth $25,295,000 after buying an additional 4,960 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Owens-Illinois by 82.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 442,800 shares of the company’s stock worth $7,067,000 after buying an additional 200,200 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Owens-Illinois by 5.9% in the first quarter. LPL Financial LLC now owns 51,748 shares of the company’s stock worth $802,000 after buying an additional 2,891 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.
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Owens-Illinois Company Profile
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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