A number of other equities analysts have also recently commented on the stock. Citigroup Inc. reissued a buy rating and issued a $22.00 price objective on shares of Owens-Illinois in a research note on Friday, July 1st. Jefferies Group lifted their price objective on shares of Owens-Illinois from $18.00 to $20.00 and gave the stock a hold rating in a research note on Thursday, July 14th. Zacks Investment Research raised shares of Owens-Illinois from a sell rating to a hold rating in a research note on Monday, August 1st. RBC Capital Markets started coverage on shares of Owens-Illinois in a research note on Thursday, September 29th. They issued a sector perform rating and a $18.00 price objective for the company. Finally, Morgan Stanley reissued an equal weight rating and issued a $40.00 price objective on shares of Owens-Illinois in a research note on Saturday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $20.87.
Owens-Illinois (NYSE:OI) opened at 17.98 on Friday. The company’s 50 day moving average is $18.01 and its 200 day moving average is $18.10. Owens-Illinois has a 12 month low of $11.58 and a 12 month high of $24.05. The stock has a market cap of $2.91 billion, a PE ratio of 15.00 and a beta of 1.96.
Owens-Illinois (NYSE:OI) last posted its earnings results on Wednesday, July 27th. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company earned $1.76 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Owens-Illinois had a negative net margin of 0.20% and a positive return on equity of 67.16%. Owens-Illinois’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. On average, analysts anticipate that Owens-Illinois will post $2.32 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kentucky Retirement Systems acquired a new position in Owens-Illinois during the second quarter worth approximately $248,000. Northwestern Mutual Investment Management Company LLC increased its position in Owens-Illinois by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,176 shares of the company’s stock worth $111,000 after buying an additional 31 shares during the period. Mason Street Advisors LLC acquired a new position in Owens-Illinois during the second quarter worth approximately $393,000. Public Employees Retirement System of Ohio increased its position in Owens-Illinois by 3.8% in the second quarter. Public Employees Retirement System of Ohio now owns 34,593 shares of the company’s stock worth $623,000 after buying an additional 1,265 shares during the period. Finally, Calvert Investment Management Inc. increased its position in Owens-Illinois by 13.0% in the second quarter. Calvert Investment Management Inc. now owns 18,377 shares of the company’s stock worth $331,000 after buying an additional 2,121 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.
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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