Owens-Illinois Inc. (OI) Stock Price Up 3.7%
Shares of Owens-Illinois Inc. (NYSE:OI) rose 3.7% on Tuesday . The company traded as high as $19.21 and last traded at $19.19, with a volume of 1,361,876 shares. The stock had previously closed at $18.51.
Several equities analysts have commented on OI shares. Citigroup Inc. raised shares of Owens-Illinois from a “neutral” rating to a “buy” rating and raised their target price for the company from $15.00 to $19.00 in a research note on Wednesday, April 6th. Zacks Investment Research raised shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, April 25th. Jefferies Group raised their target price on shares of Owens-Illinois from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, July 14th. Goldman Sachs Group Inc. started coverage on shares of Owens-Illinois in a research note on Thursday, May 12th. They set a “sell” rating and a $18.00 target price on the stock. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Owens-Illinois in a research note on Wednesday, May 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Owens-Illinois currently has an average rating of “Hold” and an average price target of $19.83.
The stock has a market capitalization of $3.08 billion and a P/E ratio of 23.85. The company has a 50-day moving average of $18.36 and a 200 day moving average of $16.56.
Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities analysts predict that Owens-Illinois Inc. will post $2.30 EPS for the current year.
In other news, Director Gordon Hardie purchased 3,400 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average cost of $18.65 per share, for a total transaction of $63,410.00. Following the completion of the purchase, the director now directly owns 12,699 shares in the company, valued at approximately $236,836.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Several hedge funds and institutional investors have recently modified their holdings of the company. Oarsman Capital Inc. raised its position in shares of Owens-Illinois by 30.7% in the fourth quarter. Oarsman Capital Inc. now owns 104,567 shares of the company’s stock worth $1,822,000 after buying an additional 24,537 shares during the period. Airain ltd raised its position 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 during the period. Marshall Wace LLP raised its position in shares of Owens-Illinois by 1,841.5% in the fourth quarter. Marshall Wace LLP now owns 1,038,165 shares of the company’s stock worth $18,085,000 after buying an additional 984,692 shares during the period. Golub Group LLC raised its position in shares of Owens-Illinois by 25.7% in the fourth quarter. Golub Group LLC now owns 1,176,867 shares of the company’s stock worth $20,501,000 after buying an additional 240,285 shares during the period. Finally, Olstein Capital Management L.P. raised its position in shares of Owens-Illinois by 13.2% in the fourth quarter. Olstein Capital Management L.P. now owns 652,000 shares of the company’s stock worth $11,358,000 after buying an additional 76,000 shares during the period.
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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