Owens-Illinois, Inc. (OI) Receives “Hold” Rating from BMO Capital Markets
Owens-Illinois, Inc. (NYSE:OI)‘s stock had its “hold” rating reaffirmed by equities researchers at BMO Capital Markets in a research note issued on Sunday. They currently have a $25.00 price objective on the industrial products company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 3.82% from the company’s previous close.
Several other equities research analysts have also weighed in on OI. Deutsche Bank AG restated a “hold” rating and issued a $24.00 target price (up from $20.00) on shares of Owens-Illinois in a report on Saturday, April 29th. Barclays PLC boosted their target price on Owens-Illinois from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. TheStreet upgraded Owens-Illinois from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Zacks Investment Research lowered Owens-Illinois from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Finally, ValuEngine lowered Owens-Illinois from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.38.
Owens-Illinois (NYSE:OI) opened at 24.08 on Friday. The firm has a market cap of $3.92 billion, a PE ratio of 17.45 and a beta of 1.50. Owens-Illinois has a one year low of $16.80 and a one year high of $25.02. The company has a 50 day moving average of $24.18 and a 200-day moving average of $22.02.
Owens-Illinois (NYSE:OI) last posted its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $0.65 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts predict that Owens-Illinois will post $2.63 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Owens-Illinois by 104.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after buying an additional 2,366 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Owens-Illinois during the second quarter valued at approximately $113,000. James Investment Research Inc. acquired a new position in shares of Owens-Illinois during the first quarter valued at approximately $149,000. Acrospire Investment Management LLC increased its position in shares of Owens-Illinois by 163.8% in the second quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after buying an additional 4,169 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Owens-Illinois by 113.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock valued at $165,000 after buying an additional 4,300 shares in the last quarter. 94.79% of the stock is currently 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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