Positive Press Coverage Somewhat Unlikely to Impact Owens-Illinois (NYSE:OI) Stock Price

News coverage about Owens-Illinois (NYSE:OI) has trended positive this week, according to Accern. Accern scores the sentiment of media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Owens-Illinois earned a coverage optimism score of 0.27 on Accern’s scale. Accern also gave headlines about the industrial products company an impact score of 45.950314359603 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

These are some of the headlines that may have effected Accern Sentiment’s analysis:

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A number of analysts recently commented on OI shares. Zacks Investment Research cut shares of Owens-Illinois from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Royal Bank of Canada reiterated a “hold” rating and issued a $26.00 target price on shares of Owens-Illinois in a research note on Thursday, December 14th. ValuEngine raised shares of Owens-Illinois from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Wells Fargo decreased their price target on shares of Owens-Illinois from $24.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday, February 9th. Finally, Vertical Research raised shares of Owens-Illinois to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $26.00.

Shares of NYSE:OI traded down $0.76 on Friday, hitting $21.00. The company had a trading volume of 1,473,989 shares, compared to its average volume of 1,421,418. Owens-Illinois has a 1 year low of $19.86 and a 1 year high of $25.90. The company has a current ratio of 1.06, a quick ratio of 0.61 and a debt-to-equity ratio of 5.52. The stock has a market cap of $3,510.08, a price-to-earnings ratio of 7.92, a P/E/G ratio of 1.35 and a beta of 1.41.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.55 earnings per share (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 company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $0.50 EPS. Owens-Illinois’s revenue was up 6.3% on a year-over-year basis. equities analysts forecast that Owens-Illinois will post 2.81 EPS for the current fiscal year.

Owens-Illinois announced that its board has authorized a share repurchase plan on Tuesday, February 6th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

In other Owens-Illinois news, SVP Moyano Giancarlo Currarino sold 11,910 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $22.57, for a total transaction of $268,808.70. Following the completion of the sale, the senior vice president now directly owns 28,070 shares in the company, valued at approximately $633,539.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

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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.

Insider Buying and Selling by Quarter for Owens-Illinois (NYSE:OI)

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