Owens-Illinois, Inc. (OI) Given Hold Rating at Royal Bank Of Canada
Owens-Illinois, Inc. (NYSE:OI)‘s stock had its “hold” rating reissued by stock analysts at Royal Bank Of Canada in a note issued to investors on Wednesday. They currently have a $25.00 price target on the industrial products company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 3.78% from the company’s previous close.
A number of other research analysts also recently issued reports on OI. Zacks Investment Research downgraded shares of Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. ValuEngine downgraded shares of Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 3rd. BidaskClub upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $26.00 price target (up from $20.00) on shares of Owens-Illinois in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Owens-Illinois presently has an average rating of “Hold” and a consensus price target of $25.50.
Shares of Owens-Illinois (OI) traded up 0.38% during midday trading on Wednesday, reaching $24.09. 1,212,805 shares of the company traded hands. The company has a 50 day moving average of $24.11 and a 200 day moving average of $22.31. The firm has a market capitalization of $3.92 billion, a P/E ratio of 17.21 and a beta of 1.51. Owens-Illinois has a 12 month low of $16.80 and a 12 month high of $25.04.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Owens-Illinois will post $2.62 earnings per share for the current fiscal year.
In other news, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $24.93, for a total transaction of $136,541.61. Following the completion of the transaction, the insider now owns 34,890 shares in the company, valued at approximately $869,807.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of OI. DekaBank Deutsche Girozentrale boosted its position in shares of Owens-Illinois by 104.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 2,366 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Owens-Illinois during the 2nd quarter valued at about $113,000. Acrospire Investment Management LLC boosted its position in shares of Owens-Illinois by 163.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,714 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 4,169 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Owens-Illinois by 113.2% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,100 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its position in shares of Owens-Illinois by 74.4% during the 2nd quarter. Flinton Capital Management LLC now owns 7,200 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 3,072 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.
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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