Share on StockTwits

Owens-Illinois (NYSE:OI) was upgraded by research analysts at S&P Equity Research to a “strong-buy” rating in a report released on Wednesday.

Owens-Illinois (NYSE:OI) traded up 0.47% on Wednesday, hitting $34.06. The stock had a trading volume of 903,432 shares. Owens-Illinois has a 52 week low of $26.31 and a 52 week high of $35.95. The stock’s 50-day moving average is $32.79 and its 200-day moving average is $33.26. The company has a market cap of $5.622 billion and a price-to-earnings ratio of 25.94.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings results 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.

Several other analysts have also recently commented on the stock. Analysts at Bank of America upgraded shares of Owens-Illinois from a “neutral” rating to a “buy” rating in a research note on Friday, June 13th. They now have a $38.00 price target on the stock. Separately, 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. Finally, 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. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $36.70.

Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.