OI has been the subject of a number of other research reports. Zacks Investment Research upgraded Owens-Illinois from a sell rating to a hold rating in a report on Monday, August 1st. Goldman Sachs Group Inc. reiterated a sell rating and issued a $18.00 price target on shares of Owens-Illinois in a report on Wednesday, June 1st. TheStreet upgraded Owens-Illinois from a sell rating to a hold rating in a report on Wednesday, June 15th. Jefferies Group boosted their price target on Owens-Illinois from $18.00 to $20.00 and gave the company a hold rating in a report on Thursday, July 14th. Finally, Citigroup Inc. reiterated a buy rating and issued a $22.00 price target on shares of Owens-Illinois in a report on Friday, July 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $21.07.
Owens-Illinois (NYSE:OI) traded up 0.22% during midday trading on Thursday, reaching $18.30. The company’s stock had a trading volume of 424,600 shares. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 15.26 and a beta of 2.02. The company’s 50-day moving average is $18.06 and its 200 day moving average is $18.00. Owens-Illinois has a 12-month low of $11.58 and a 12-month high of $24.05.
Owens-Illinois (NYSE:OI) last announced its earnings results on Wednesday, July 27th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Owens-Illinois had a positive return on equity of 67.16% and a negative net margin of 0.20%. The business earned $1.76 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts forecast that Owens-Illinois will post $2.32 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position 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 last quarter. State Street Corp increased its position 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 last quarter. Orbis Allan Gray Ltd purchased a new position in Owens-Illinois during the first quarter valued at about $121,204,000. Sasco Capital Inc. CT increased its position 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 last quarter. Finally, Wedge Capital Management L L P NC increased its position 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 last quarter. 93.89% of the stock is currently owned by hedge funds and other 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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