Owens-Illinois, Inc. (OI) Stock Rating Upgraded by ValuEngine
Owens-Illinois, Inc. (NYSE:OI) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.
Several other brokerages also recently weighed in on OI. Robert W. Baird reiterated a “hold” rating and issued a $25.00 price objective on shares of Owens-Illinois in a research report on Thursday. Royal Bank Of Canada reiterated a “neutral” rating on shares of Owens-Illinois in a research report on Tuesday, October 10th. Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. UBS AG began coverage on Owens-Illinois in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Owens-Illinois in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Owens-Illinois currently has a consensus rating of “Hold” and an average price target of $25.60.
Owens-Illinois (OI) opened at 25.56 on Friday. Owens-Illinois has a 12-month low of $16.89 and a 12-month high of $25.90. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 18.52 and a beta of 1.49. The firm’s 50-day moving average is $24.76 and its 200 day moving average is $23.23.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, equities analysts expect that Owens-Illinois will post $2.63 earnings per share for the current fiscal year.
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In related news, insider Sergio B.O. Galindo sold 5,477 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the sale, the insider now directly owns 34,890 shares of the company’s stock, valued at $869,807.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Moyano Giancarlo Currarino sold 1,360 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the completion of the sale, the senior vice president now directly owns 23,954 shares in the company, valued at $574,177.38. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its stake in Owens-Illinois by 9.8% in the first quarter. Morgan Stanley now owns 710,399 shares of the industrial products company’s stock worth $14,478,000 after purchasing an additional 63,586 shares during the period. Contrarius Investment Management Ltd purchased a new stake in Owens-Illinois in the second quarter worth $4,183,000. BlackRock Inc. grew its stake in 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 worth $298,679,000 after purchasing an additional 14,566,275 shares during the period. Arizona State Retirement System grew its stake in Owens-Illinois by 1.6% in the second quarter. Arizona State Retirement System now owns 68,600 shares of the industrial products company’s stock worth $1,641,000 after purchasing an additional 1,100 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew 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 worth $165,000 after purchasing an additional 4,300 shares during the period. 95.06% of the stock is currently owned by institutional investors.
Owens-Illinois Company Profile
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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