Owens-Illinois, Inc. (OI) Receives Average Rating of “Hold” from Analysts
Owens-Illinois, Inc. (NYSE:OI) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $26.40.
OI has been the topic of a number of research reports. ValuEngine upgraded Owens-Illinois from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. Zacks Investment Research lowered Owens-Illinois from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. UBS AG initiated coverage on Owens-Illinois in a report on Tuesday, September 5th. They issued a “neutral” rating and a $26.00 price objective on the stock. Robert W. Baird raised their price objective on Owens-Illinois from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Owens-Illinois in a report on Friday.
Shares of Owens-Illinois (NYSE OI) traded down $0.03 during midday trading on Monday, hitting $23.31. 1,053,300 shares of the stock were exchanged, compared to its average volume of 1,274,292. Owens-Illinois has a twelve month low of $17.31 and a twelve month high of $25.90. The firm has a market cap of $3,850.00, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 5.73.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Owens-Illinois had a net margin of 3.59% and a return on equity of 63.33%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. equities analysts forecast that Owens-Illinois will post 2.64 EPS for the current year.
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In other news, insider Timothy M. Connors sold 3,500 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $23.86, for a total transaction of $83,510.00. Following the completion of the transaction, the insider now directly owns 19,624 shares of the company’s stock, valued at $468,228.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sergio B.O. Galindo sold 5,477 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the transaction, the insider now directly owns 34,890 shares of the company’s stock, valued at $869,807.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,337 shares of company stock valued at $252,651. 1.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Owens-Illinois by 3.5% during the second quarter. BlackRock Inc. now owns 15,167,509 shares of the industrial products company’s stock worth $362,806,000 after purchasing an additional 512,032 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Owens-Illinois by 0.7% during the third quarter. Great West Life Assurance Co. Can now owns 7,997,182 shares of the industrial products company’s stock worth $201,104,000 after acquiring an additional 58,137 shares during the period. Prudential Financial Inc. grew its holdings in Owens-Illinois by 15.1% during the third quarter. Prudential Financial Inc. now owns 3,916,784 shares of the industrial products company’s stock worth $98,546,000 after acquiring an additional 513,679 shares during the period. Thrivent Financial For Lutherans grew its holdings in Owens-Illinois by 30.7% during the second quarter. Thrivent Financial For Lutherans now owns 2,929,740 shares of the industrial products company’s stock worth $70,080,000 after acquiring an additional 688,720 shares during the period. Finally, LSV Asset Management grew its holdings in Owens-Illinois by 36.9% during the second quarter. LSV Asset Management now owns 2,271,378 shares of the industrial products company’s stock worth $54,331,000 after acquiring an additional 612,600 shares during the period. Hedge funds and other institutional investors own 95.95% 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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