Owens-Illinois Stock Rating Reaffirmed by Citigroup Inc. (OI)
Owens-Illinois (NYSE:OI)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research note issued on Tuesday. They currently have a $35.00 price objective on the stock, down from their previous price objective of $36.00. Citigroup Inc.’s price objective would suggest a potential upside of 13.23% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Owens-Illinois in a research note on Thursday, July 31st. They now have a $33.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Owens-Illinois from $39.00 to $42.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Owens-Illinois in a research note on Wednesday, July 2nd. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.00.
Shares of Owens-Illinois (NYSE:OI) traded down 1.49% on Tuesday, hitting $30.45. The stock had a trading volume of 704,986 shares. Owens-Illinois has a 52 week low of $28.29 and a 52 week high of $35.95. The stock’s 50-day moving average is $33.68 and its 200-day moving average is $33.08. The company has a market cap of $5.019 billion and a price-to-earnings ratio of 25.84.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.82 by $0.02. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company posted $0.81 earnings per share. Owens-Illinois’s revenue was up .9% compared to the same quarter last year. Analysts expect that Owens-Illinois will post $2.93 EPS for the current fiscal year.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing plants in 21 countries.
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