Shares of Owens-Illinois Inc. (NYSE:OI) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.25.
Several brokerages have recently issued reports on OI. Zacks Investment Research upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, October 13th. Morgan Stanley reiterated an “equal weight” rating and issued a $40.00 target price on shares of Owens-Illinois in a research report on Saturday, August 13th. Deutsche Bank AG reiterated a “hold” rating and issued a $20.00 target price (up previously from $18.73) on shares of Owens-Illinois in a research report on Tuesday. Jefferies Group reiterated a “hold” rating and issued a $19.00 target price on shares of Owens-Illinois in a research report on Thursday, October 20th. Finally, Royal Bank Of Canada began coverage on shares of Owens-Illinois in a research report on Friday, September 30th. They issued a “sector perform” rating and a $18.00 target price on the stock.
Several institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in Owens-Illinois during the second quarter valued at $24,763,000. ClariVest Asset Management LLC increased its position in shares of Owens-Illinois by 1,433,872.6% in the second quarter. ClariVest Asset Management LLC now owns 1,046,800 shares of the company’s stock worth $18,853,000 after buying an additional 1,046,727 shares during the period. Prudential Financial Inc. increased its position in shares of Owens-Illinois by 49.6% in the third quarter. Prudential Financial Inc. now owns 2,489,400 shares of the company’s stock worth $45,780,000 after buying an additional 825,741 shares during the period. AQR Capital Management LLC increased its position in shares of Owens-Illinois by 121.4% in the second quarter. AQR Capital Management LLC now owns 1,382,005 shares of the company’s stock worth $24,890,000 after buying an additional 757,796 shares during the period. Finally, Allianz Asset Management AG purchased a new position in shares of Owens-Illinois during the second quarter worth approximately $13,533,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Owens-Illinois (NYSE:OI) opened at 18.35 on Wednesday. Owens-Illinois has a 12 month low of $11.58 and a 12 month high of $20.33. The stock’s 50 day moving average is $18.23 and its 200 day moving average is $18.34. The stock has a market capitalization of $2.98 billion, a PE ratio of 10.49 and a beta of 1.65.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.73 billion. Owens-Illinois had a net margin of 1.17% and a return on equity of 86.33%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. Analysts anticipate that Owens-Illinois will post $2.30 earnings per share for the current fiscal year.