Owens-Illinois (OI) Sets New 12-Month High and Low at $17.91

Owens-Illinois Inc (NYSE:OI) reached a new 52-week high and low during trading on Thursday . The stock traded as low as $17.91 and last traded at $18.12, with a volume of 64057 shares changing hands. The stock had previously closed at $18.26.

Several equities research analysts recently commented on the company. ValuEngine raised Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research raised Owens-Illinois from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, April 19th. Deutsche Bank raised Owens-Illinois from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.45 to $25.90 in a research report on Thursday, April 26th. KeyCorp reaffirmed a “hold” rating on shares of Owens-Illinois in a research report on Tuesday, April 24th. Finally, TheStreet raised Owens-Illinois from a “c” rating to a “b-” rating in a research report on Monday, April 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.54.

The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 5.04. The stock has a market capitalization of $2.97 billion, a PE ratio of 6.83, a PEG ratio of 1.21 and a beta of 1.38.

Owens-Illinois (NYSE:OI) last posted its quarterly earnings data on Monday, April 23rd. The industrial products company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. Owens-Illinois had a return on equity of 46.76% and a net margin of 3.30%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm earned $0.58 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. analysts anticipate that Owens-Illinois Inc will post 2.79 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of OI. Dimensional Fund Advisors LP raised its stake in Owens-Illinois by 49.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,517,392 shares of the industrial products company’s stock valued at $54,527,000 after purchasing an additional 834,126 shares during the period. Royal Bank of Canada raised its stake in Owens-Illinois by 739.3% during the 1st quarter. Royal Bank of Canada now owns 714,180 shares of the industrial products company’s stock valued at $15,470,000 after purchasing an additional 629,083 shares during the period. LSV Asset Management raised its stake in Owens-Illinois by 13.1% during the 1st quarter. LSV Asset Management now owns 4,911,580 shares of the industrial products company’s stock valued at $106,384,000 after purchasing an additional 568,038 shares during the period. BlackRock Inc. raised its stake in Owens-Illinois by 3.3% during the 1st quarter. BlackRock Inc. now owns 15,816,399 shares of the industrial products company’s stock valued at $342,585,000 after purchasing an additional 503,803 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in Owens-Illinois by 28.2% during the 1st quarter. Point72 Asset Management L.P. now owns 2,237,821 shares of the industrial products company’s stock valued at $48,471,000 after purchasing an additional 492,894 shares during the period. 94.37% of the stock is currently owned by institutional investors.

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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