Owens-Illinois Inc. (OI) Shares Down 2.2%
Shares of Owens-Illinois Inc. (NYSE:OI) were down 2.2% on Friday . The stock traded as low as $18.45 and last traded at $18.46, with a volume of 566,785 shares changing hands. The stock had previously closed at $18.88.
Several analysts have weighed in on OI shares. Zacks Investment Research raised 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. Citigroup Inc. reaffirmed a “buy” rating and set a $22.00 target price on shares of Owens-Illinois in a research note on Friday, July 1st. Jefferies Group lifted their target price on 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 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, nine have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $21.38.
The firm’s 50-day moving average price is $18.13 and its 200 day moving average price is $17.03. The firm has a market cap of $3.00 billion and a price-to-earnings ratio of 15.45.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Analysts expect that Owens-Illinois Inc. will post $2.32 EPS for the current fiscal year.
In other Owens-Illinois news, Director Gordon Hardie purchased 3,400 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 12,699 shares in the company, valued at $236,836.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Airain ltd increased its position in Owens-Illinois by 22.7% in the fourth quarter. Airain ltd now owns 87,434 shares of the company’s stock valued at $1,523,000 after buying an additional 16,172 shares in the last quarter. Oarsman Capital Inc. increased 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 increased 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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