Owens-Illinois, Inc. (NYSE:OI) Price Target Increased to $25.00 by Analysts at Barclays PLC
Owens-Illinois, Inc. (NYSE:OI) had its price target increased by Barclays PLC from $22.00 to $25.00 in a research report released on Monday. The brokerage currently has an equal weight rating on the industrial products company’s stock.
A number of other brokerages also recently commented on OI. TheStreet upgraded shares of Owens-Illinois from a c+ rating to a b rating in a report on Thursday, May 4th. Deutsche Bank AG reiterated a hold rating and set a $24.00 price target (up from $20.00) on shares of Owens-Illinois in a report on Saturday, April 29th. Jefferies Group LLC reiterated a hold rating and set a $20.00 price target (up from $19.00) on shares of Owens-Illinois in a report on Wednesday, April 26th. Zacks Investment Research downgraded shares of Owens-Illinois from a buy rating to a hold rating in a report on Friday, June 9th. Finally, BidaskClub downgraded shares of Owens-Illinois from a buy rating to a hold rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $26.44.
Owens-Illinois (NYSE:OI) traded up 1.44% during mid-day trading on Monday, hitting $24.61. 458,728 shares of the stock traded hands. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 17.83 and a beta of 1.50. Owens-Illinois has a 12-month low of $16.80 and a 12-month high of $25.02. The firm’s 50-day moving average is $23.87 and its 200-day moving average is $21.48.
Owens-Illinois (NYSE:OI) last announced its earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. Equities research analysts expect that Owens-Illinois will post $2.63 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in Owens-Illinois by 104.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after buying an additional 2,366 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Owens-Illinois during the second quarter valued at about $113,000. James Investment Research Inc. acquired a new stake in Owens-Illinois during the first quarter valued at about $149,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Owens-Illinois by 113.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock valued at $165,000 after buying an additional 4,300 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Owens-Illinois during the first quarter valued at about $196,000. Institutional investors own 95.29% of the company’s stock.
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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