Owens-Illinois, Inc. (NYSE:OI) Upgraded to "Strong-Buy" at BidaskClub

Solenn Plantier
Août 12, 2017

BidaskClub raised Owens-Illinois from a "hold" rating to a "buy" rating in a research report on Thursday, June 29th. Jefferies Group LLC reiterated a "hold" rating and issued a $20.00 price objective (up previously from $19.00) on shares of Owens-Illinois in a report on Wednesday, April 26th. Finally, Barclays PLC upped their target price on Owens-Illinois from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company now has a consensus rating of "Hold" and a consensus price target of $26.44.

Owens-Illinois (OI) traded down 2.49% during mid-day trading on Friday, hitting $23.90. Shares of the company are trading at $23.45 a bit lower than $24.12, the 50 day moving average and a great deal higher than the 200 day moving average of $21.67.

The P/E ratio is now 16.99 and market cap is 3.82B.

Owens-Illinois (NYSE:OI) last announced its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Owens-Illinois had a net margin of 3.36% and a return on equity of 72.15%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Analysts expect next quarter's EPS will be $0.56 and the next full year EPS is projected to be $2.80. The firm's revenue for the quarter was down.5% compared to the same quarter previous year. In the latest earnings report the EPS was $1.38 and is estimated to be $2.63 for the current year with 162,875,000 shares now outstanding.

COPYRIGHT VIOLATION WARNING: This article was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. (NYSE:OI) in a research report report published on Friday, July 14th. If you are reading this report on another website, it was copied illegally and reposted in violation of USA & worldwide trademark & copyright laws. The correct version of this report can be read at https://www.chaffeybreeze.com/2017/08/12/owens-illinois-inc-nyseoi-lifted-to-strong-buy-at-bidaskclub-updated-updated-updated.html.

Several institutional investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC owned 2.85% of Owens-Illinois worth $110,869,000 at the end of the most recent reporting period. Sigma Planning Corp now owns 21,460 shares of the industrial products company's stock valued at $513,000 after buying an additional 100 shares during the last quarter.

Citadel Advisors LLC reports that it bought 2,516,353 shares last quarter increasing its holdings in Owens-Illinois, Inc.by 2,243.2%. Contravisory Investment Management Inc. raised its position in Owens-Illinois by 26.3% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Owens-Illinois by 113.2% in the first quarter. The value of the company's investment in Owens-Illinois, Inc. increased from $25,853,000 to $43,377,000 a change of $17,524,000 since the last quarter. Russell Investments Group Ltd. raised its position in Owens-Illinois by 228.0% in the first quarter. Acadian Asset Management LLC acquired a new position in Owens-Illinois during the second quarter valued at approximately $113,000. Hedge funds and other institutional investors own 95.29% of the company's stock.

TRADEMARK VIOLATION NOTICE: "Owens-Illinois, Inc". The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine.

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