Shares of Owens-Illinois (NYSE:OI) have been given a consensus rating of “Hold” by the fifteen research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $26.10.
Several analysts have commented on the stock. Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Wells Fargo lowered their price objective on shares of Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, February 9th. ValuEngine upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Vertical Research upgraded shares of Owens-Illinois to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, February 7th.
Shares of Owens-Illinois stock traded up $0.17 during trading on Thursday, reaching $21.74. 173,953 shares of the stock were exchanged, compared to its average volume of 1,374,652. The company has a current ratio of 1.06, a quick ratio of 0.61 and a debt-to-equity ratio of 5.52. The firm has a market cap of $3,513.34, a P/E ratio of 8.14, a P/E/G ratio of 1.35 and a beta of 1.40. Owens-Illinois has a 1 year low of $20.02 and a 1 year high of $25.90.
Owens-Illinois (NYSE:OI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.72 billion. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. Owens-Illinois’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. research analysts forecast that Owens-Illinois will post 2.81 earnings per share for the current fiscal year.
Owens-Illinois announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 6th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $22.57, for a total transaction of $268,808.70. Following the completion of the sale, the senior vice president now owns 28,070 shares of the company’s stock, valued at $633,539.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Sei Investments Co. boosted its stake in shares of Owens-Illinois by 61.2% during the 3rd quarter. Sei Investments Co. now owns 7,376 shares of the industrial products company’s stock worth $186,000 after acquiring an additional 2,799 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Owens-Illinois by 1.3% during the 3rd quarter. New York State Common Retirement Fund now owns 359,270 shares of the industrial products company’s stock worth $9,039,000 after acquiring an additional 4,500 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Owens-Illinois by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 250,840 shares of the industrial products company’s stock worth $6,309,000 after acquiring an additional 8,210 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Owens-Illinois by 147.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 681,303 shares of the industrial products company’s stock worth $17,183,000 after acquiring an additional 406,454 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Owens-Illinois by 4.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 802,007 shares of the industrial products company’s stock worth $20,179,000 after acquiring an additional 36,810 shares during the last quarter. 95.20% of the stock is owned by institutional investors and hedge funds.
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Owens-Illinois Company Profile
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Europe, North America, Latin America, and the Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.
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