Owens-Illinois, Inc. (NYSE:OI) Upgraded to “Strong-Buy” at ValuEngine
ValuEngine upgraded shares of Owens-Illinois, Inc. (NYSE:OI) from a buy rating to a strong-buy rating in a research note published on Thursday, July 6th.
A number of other equities research analysts have also issued reports on OI. BMO Capital Markets reaffirmed a hold rating and issued a $20.00 target price on shares of Owens-Illinois in a research note on Friday, April 21st. Zacks Investment Research lowered Owens-Illinois from a buy rating to a hold rating in a research note on Friday, May 26th. Jefferies Group LLC reissued a hold rating and set a $20.00 price target (up previously from $19.00) on shares of Owens-Illinois in a research note on Wednesday, April 26th. Deutsche Bank AG restated a hold rating and set a $24.00 price objective (up from $20.00) on shares of Owens-Illinois in a report on Saturday, April 29th. Finally, Barclays PLC upped their price objective on Owens-Illinois from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Owens-Illinois presently has an average rating of Hold and a consensus target price of $26.11.
Owens-Illinois (OI) traded down 2.49% during mid-day trading on Thursday, reaching $23.90. The company’s stock had a trading volume of 1,625,334 shares. The firm’s 50 day moving average is $23.87 and its 200-day moving average is $21.48. The company has a market cap of $3.89 billion, a PE ratio of 17.32 and a beta of 1.50. Owens-Illinois has a 12-month low of $16.80 and a 12-month high of $25.02.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. Equities analysts anticipate that Owens-Illinois will post $2.59 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Telemus Capital LLC bought a new position in Owens-Illinois during the first quarter worth approximately $202,000. Louisiana State Employees Retirement System raised its position in Owens-Illinois by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 41,000 shares of the industrial products company’s stock worth $836,000 after buying an additional 900 shares in the last quarter. CrestPoint Capital Management LLC raised its position in Owens-Illinois by 35.9% in the first quarter. CrestPoint Capital Management LLC now owns 17,400 shares of the industrial products company’s stock worth $355,000 after buying an additional 4,600 shares in the last quarter. Bank of Montreal Can raised its position in Owens-Illinois by 17.7% in the first quarter. Bank of Montreal Can now owns 10,830 shares of the industrial products company’s stock worth $221,000 after buying an additional 1,632 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its position in Owens-Illinois by 26.3% in the first quarter. Contravisory Investment Management Inc. now owns 13,779 shares of the industrial products company’s stock worth $281,000 after buying an additional 2,867 shares in the last quarter. Institutional investors and hedge funds own 95.50% of the company’s stock.
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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