Owens-Illinois Price Target Raised to $35.00 at Robert W. Baird (OI)
Analysts at Robert W. Baird boosted their price objective on shares of Owens-Illinois (NYSE:OI) from $32.00 to $35.00 in a research report issued to clients and investors on Friday, American Banking & Market News reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 10.17% from the stock’s previous close.
Owens-Illinois (NYSE:OI) traded down 0.06% on Friday, hitting $31.77. 1,603,389 shares of the company’s stock traded hands. Owens-Illinois has a 52-week low of $16.82 and a 52-week high of $32.08. The stock has a 50-day moving average of $30.28 and a 200-day moving average of $28.82. The company has a market cap of $5.222 billion and a price-to-earnings ratio of 40.29.
Owens-Illinois (NYSE:OI) last announced its earnings results on Thursday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Owens-Illinois will post $2.74 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Owens-Illinois from $35.00 to $38.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at TheStreet downgraded shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research note to investors on Friday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Owens-Illinois in a research note to investors on Friday. They now have a $33.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Owens-Illinois presently has a consensus rating of “Buy” and a consensus price target of $33.43.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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