Shares of Owens-Illinois Inc (NYSE:OI) have been given a consensus rating of “Hold” by the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $25.91.
Several research firms recently issued reports on OI. Robert W. Baird increased their price target on shares of Owens-Illinois from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. UBS Group reissued a “neutral” rating and set a $27.00 price target (up from $26.00) on shares of Owens-Illinois in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Owens-Illinois from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. KeyCorp reissued a “hold” rating on shares of Owens-Illinois in a report on Friday, November 10th. Finally, Wells Fargo & Co cut their price target 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.
A number of institutional investors and hedge funds have recently modified their holdings of OI. LSV Asset Management grew its position in Owens-Illinois by 38.9% during the fourth quarter. LSV Asset Management now owns 4,343,542 shares of the industrial products company’s stock worth $96,296,000 after buying an additional 1,216,999 shares during the period. Principal Financial Group Inc. grew its position in Owens-Illinois by 145.9% during the third quarter. Principal Financial Group Inc. now owns 1,714,934 shares of the industrial products company’s stock worth $43,148,000 after buying an additional 1,017,414 shares during the period. Bank of Montreal Can grew its position in Owens-Illinois by 10,107.7% during the fourth quarter. Bank of Montreal Can now owns 1,015,977 shares of the industrial products company’s stock worth $22,524,000 after buying an additional 1,006,024 shares during the period. Waverton Investment Management Ltd grew its position in Owens-Illinois by 9,971.9% during the fourth quarter. Waverton Investment Management Ltd now owns 1,014,841 shares of the industrial products company’s stock worth $22,499,000 after buying an additional 1,004,765 shares during the period. Finally, Boston Partners acquired a new position in Owens-Illinois during the third quarter worth about $22,201,000. Institutional investors own 94.65% of the company’s stock.
Owens-Illinois (NYSE:OI) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Owens-Illinois had a net margin of 2.65% and a return on equity of 53.60%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. equities research analysts forecast that Owens-Illinois will post 2.81 earnings per share for the current fiscal year.
Owens-Illinois declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 6th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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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