Owens-Illinois Inc. (OI) Trading Down 2.2%
Owens-Illinois Inc. (NYSE:OI) shares traded down 2.2% during trading on Friday . The stock traded as low as $18.45 and last traded at $18.46, with a volume of 566,785 shares trading hands. The stock had previously closed at $18.88.
Several research analysts recently commented on the company. Goldman Sachs Group Inc. assumed coverage on Owens-Illinois in a research report on Thursday, May 12th. They set a “sell” rating and a $18.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Owens-Illinois from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, May 3rd. Zacks Investment Research raised Owens-Illinois from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Bank of America Corp. reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Owens-Illinois in a research report on Tuesday, May 3rd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Owens-Illinois in a research report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Owens-Illinois currently has a consensus rating of “Hold” and a consensus target price of $19.83.
The company has a market cap of $3.00 billion and a PE ratio of 15.45. The company has a 50-day moving average price of $18.16 and a 200-day moving average price of $16.99.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. During the same period in the prior year, the firm posted $0.60 earnings per share. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts forecast that Owens-Illinois Inc. will post $2.32 earnings per share for the current year.
In related news, Director Gordon Hardie acquired 3,400 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was purchased at an average cost of $18.65 per share, with a total value of $63,410.00. Following the acquisition, the director now owns 12,699 shares of the company’s stock, valued at approximately $236,836.35. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
A number of hedge funds recently modified their holdings of the company. Airain ltd raised its stake in shares of Owens-Illinois by 22.7% in the fourth quarter. Airain ltd now owns 87,434 shares of the company’s stock worth $1,523,000 after buying an additional 16,172 shares in the last quarter. Oarsman Capital Inc. raised its position in Owens-Illinois by 30.7% in the fourth quarter. Oarsman Capital Inc. now owns 104,567 shares of the company’s stock valued at $1,822,000 after buying an additional 24,537 shares in the last quarter. Finally, Bernzott Capital Advisors raised its position in Owens-Illinois by 23.8% in the fourth quarter. Bernzott Capital Advisors now owns 859,634 shares of the company’s stock valued at $14,975,000 after buying an additional 164,999 shares in the last quarter.
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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