Shares of Owens-Illinois Inc (NYSE:OI) have earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $23.84.
Several equities analysts recently commented on the stock. Robert W. Baird decreased their price objective on shares of Owens-Illinois from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, July 25th. Citigroup decreased their price objective on shares of Owens-Illinois from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 10th. Bank of America set a $22.00 price target on shares of Owens-Illinois and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Finally, Zacks Investment Research lowered shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th.
A number of institutional investors and hedge funds have recently bought and sold shares of OI. Point72 Hong Kong Ltd raised its position in Owens-Illinois by 99,050.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 7,932 shares of the industrial products company’s stock worth $133,000 after buying an additional 7,924 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Owens-Illinois during the 3rd quarter worth approximately $152,000. US Bancorp DE raised its position in Owens-Illinois by 77.6% during the 3rd quarter. US Bancorp DE now owns 8,146 shares of the industrial products company’s stock worth $153,000 after buying an additional 3,558 shares during the last quarter. Hartford Investment Management Co. purchased a new position in Owens-Illinois during the 2nd quarter worth approximately $168,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Owens-Illinois during the 3rd quarter worth approximately $170,000. 92.84% of the stock is owned by institutional investors.
Owens-Illinois (NYSE:OI) last announced its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.78 billion. Owens-Illinois had a net margin of 1.94% and a return on equity of 44.21%. Owens-Illinois’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. Analysts expect that Owens-Illinois will post 2.74 EPS for the current fiscal year.
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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