Owens-Illinois, Inc. (OI) Receives Hold Rating from Jefferies Group LLC
Jefferies Group LLC restated their hold rating on shares of Owens-Illinois, Inc. (NYSE:OI) in a research report sent to investors on Friday morning. The brokerage currently has a $26.00 target price on the industrial products company’s stock, up from their previous target price of $20.00.
Several other equities research analysts have also weighed in on the company. Barclays PLC boosted their target price on Owens-Illinois from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Monday, May 1st. Zacks Investment Research lowered Owens-Illinois from a buy rating to a hold rating in a report on Friday, May 12th. ValuEngine lowered Owens-Illinois from a strong-buy rating to a buy rating in a report on Saturday, June 3rd. BMO Capital Markets restated a hold rating and issued a $20.00 target price on shares of Owens-Illinois in a report on Friday, April 21st. Finally, Citigroup Inc. reduced their target price on Owens-Illinois from $28.00 to $24.00 and set an underweight rating for the company in a report on Friday, April 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $26.00.
Owens-Illinois (NYSE:OI) traded down 0.40% during mid-day trading on Friday, reaching $24.68. 1,196,918 shares of the company were exchanged. Owens-Illinois has a 12 month low of $16.80 and a 12 month high of $25.00. The company has a market cap of $4.02 billion, a P/E ratio of 21.20 and a beta of 1.50. The stock’s 50-day moving average is $22.66 and its 200-day moving average is $20.47.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Owens-Illinois had a return on equity of 80.74% and a net margin of 2.84%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Equities analysts expect that Owens-Illinois will post $2.50 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of OI. Vanguard Group Inc. increased its position in shares of Owens-Illinois by 7.5% in the first quarter. Vanguard Group Inc. now owns 16,401,514 shares of the industrial products company’s stock valued at $334,263,000 after buying an additional 1,139,389 shares in the last quarter. BlackRock Inc. increased its position in shares of Owens-Illinois by 16,329.5% in the first quarter. BlackRock Inc. now owns 14,655,477 shares of the industrial products company’s stock valued at $298,679,000 after buying an additional 14,566,275 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Owens-Illinois by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 7,813,380 shares of the industrial products company’s stock valued at $158,919,000 after buying an additional 26,764 shares in the last quarter. State Street Corp increased its position in shares of Owens-Illinois by 4.9% in the first quarter. State Street Corp now owns 7,353,692 shares of the industrial products company’s stock valued at $149,869,000 after buying an additional 343,321 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Owens-Illinois by 33.6% in the first quarter. Prudential Financial Inc. now owns 3,776,681 shares of the industrial products company’s stock valued at $76,969,000 after buying an additional 949,286 shares in the last quarter. 95.24% of the stock is currently owned by institutional investors.
Owens-Illinois, Inc is a manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company’s segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.
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