Owens-Illinois’ (OI) “Hold” Rating Reiterated at Robert W. Baird
Owens-Illinois, Inc. (NYSE:OI)‘s stock had its “hold” rating reissued by research analysts at Robert W. Baird in a research report issued to clients and investors on Thursday. They currently have a $25.00 target price on the industrial products company’s stock. Robert W. Baird’s price objective suggests a potential downside of 2.65% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. BidaskClub cut Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $24.00 price target on shares of Owens-Illinois in a research report on Friday, July 14th. ValuEngine raised Owens-Illinois from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, September 21st. Finally, UBS AG assumed coverage on Owens-Illinois in a research report on Tuesday, September 5th. They set a “neutral” rating and a $26.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.60.
Owens-Illinois (OI) traded down 0.16% during midday trading on Thursday, hitting $25.64. The stock had a trading volume of 361,858 shares. Owens-Illinois has a 1-year low of $16.80 and a 1-year high of $25.90. The stock has a market capitalization of $4.18 billion, a PE ratio of 18.58 and a beta of 1.49. The stock’s 50-day moving average is $24.63 and its 200-day moving average is $23.15.
Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Owens-Illinois will post $2.63 EPS for the current fiscal year.
In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the transaction, the senior vice president now directly owns 23,954 shares in the company, valued at approximately $574,177.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sergio B.O. Galindo sold 5,477 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $24.93, for a total value of $136,541.61. Following the completion of the transaction, the insider now owns 34,890 shares in the company, valued at $869,807.70. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its stake in Owens-Illinois by 104.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,635 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 2,366 shares during 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 increased 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 during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased 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 during the last quarter. Finally, Flinton Capital Management LLC increased 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 during the last quarter. Institutional investors and hedge funds own 95.06% 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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