Bank of America Upgrades Owens-Illinois to Buy (OI)
Owens-Illinois (NYSE:OI) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $38.00 price target on the stock. Bank of America’s target price indicates a potential upside of 16.07% from the stock’s previous close.
Shares of Owens-Illinois (NYSE:OI) opened at 32.74 on Friday. Owens-Illinois has a 1-year low of $26.31 and a 1-year high of $35.95. The stock has a 50-day moving average of $32.66 and a 200-day moving average of $33.24. The company has a market cap of $5.405 billion and a P/E ratio of 25.28.
Owens-Illinois (NYSE:OI) last released its earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, analysts predict that Owens-Illinois will post $2.97 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. cut their price target on shares of Owens-Illinois from $37.00 to $36.00 in a research note on Tuesday, May 6th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Owens-Illinois in a research note on Thursday, May 1st. They now have a $33.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Owens-Illinois presently has an average rating of “Buy” and a consensus price target of $36.70.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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