Analysts Set Owens-Illinois Inc (NYSE:OI) Price Target at $15.88

Owens-Illinois Inc (NYSE:OI) has received an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $14.75.

A number of brokerages have issued reports on OI. Credit Suisse Group cut their price target on Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. UBS Group cut their price target on Owens-Illinois from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Bank of America lowered Owens-Illinois from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Goldman Sachs Group upgraded Owens-Illinois from a “sell” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $13.00 in a research note on Monday, August 5th. Finally, Wells Fargo & Co cut their price target on Owens-Illinois from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday.

OI stock traded up $0.14 during trading on Monday, reaching $9.84. The company’s stock had a trading volume of 1,046,307 shares, compared to its average volume of 1,875,698. Owens-Illinois has a 1 year low of $8.91 and a 1 year high of $20.78. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 5.72. The company has a market capitalization of $1.51 billion, a P/E ratio of 3.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.52. The company’s fifty day moving average is $9.94 and its 200-day moving average is $14.82.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.07). Owens-Illinois had a return on equity of 39.73% and a net margin of 3.76%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts anticipate that Owens-Illinois will post 2.3 earnings per share for the current year.

In other news, Director Carol A. Williams acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $12.21 per share, for a total transaction of $122,100.00. Following the completion of the transaction, the director now directly owns 60,761 shares in the company, valued at approximately $741,891.81. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. grew its position in shares of Owens-Illinois by 11,870.8% during the third quarter. Meeder Asset Management Inc. now owns 8,619 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 8,547 shares in the last quarter. Fox Run Management L.L.C. grew its position in Owens-Illinois by 19.4% in the third quarter. Fox Run Management L.L.C. now owns 15,737 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 2,556 shares in the last quarter. Fruth Investment Management grew its position in Owens-Illinois by 4.7% in the third quarter. Fruth Investment Management now owns 62,150 shares of the industrial products company’s stock worth $638,000 after acquiring an additional 2,800 shares in the last quarter. State of Alaska Department of Revenue grew its position in Owens-Illinois by 57.3% in the third quarter. State of Alaska Department of Revenue now owns 27,669 shares of the industrial products company’s stock worth $284,000 after acquiring an additional 10,079 shares in the last quarter. Finally, Atria Investments LLC grew its position in Owens-Illinois by 192.4% in the second quarter. Atria Investments LLC now owns 49,294 shares of the industrial products company’s stock worth $3,953,000 after acquiring an additional 32,434 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About Owens-Illinois

Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.

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Analyst Recommendations for Owens-Illinois (NYSE:OI)

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