Royal Bank Of Canada Reiterates “$27.00” Price Target for Owens-Illinois, Inc. (NYSE:OI)

Owens-Illinois, Inc. (NYSE:OI) received a $27.00 price target from stock analysts at Royal Bank Of Canada in a research note issued on Tuesday, October 17th. The brokerage presently has a “hold” rating on the industrial products company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 11.62% from the company’s previous close.

OI has been the topic of a number of other research reports. BMO Capital Markets reissued a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a report on Sunday, August 27th. Zacks Investment Research lowered Owens-Illinois from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. BidaskClub upgraded Owens-Illinois from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Robert W. Baird reiterated a “hold” rating and set a $25.00 price objective on shares of Owens-Illinois in a research report on Thursday, October 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $27.00 price objective (up from $26.00) on shares of Owens-Illinois in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.45.

Shares of Owens-Illinois (NYSE:OI) traded up $0.30 during midday trading on Tuesday, hitting $24.19. The stock had a trading volume of 278,942 shares, compared to its average volume of 1,341,698. Owens-Illinois has a 1 year low of $17.31 and a 1 year high of $25.90. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.23 and a quick ratio of 0.74. The stock has a market cap of $3,893.85, a PE ratio of 9.19, a PEG ratio of 1.24 and a beta of 1.53.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Owens-Illinois had a return on equity of 63.33% and a net margin of 3.59%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. research analysts forecast that Owens-Illinois will post 2.64 earnings per share for the current fiscal year.

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In other news, SVP Moyano Giancarlo Currarino sold 1,360 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $23.97, for a total value of $32,599.20. Following the completion of the transaction, the senior vice president now owns 23,954 shares in the company, valued at approximately $574,177.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sergio B.O. Galindo sold 5,477 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $24.93, for a total value of $136,541.61. Following the completion of the transaction, the insider now owns 34,890 shares of the company’s stock, valued at approximately $869,807.70. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Sigma Planning Corp raised its stake in Owens-Illinois by 0.5% during the second quarter. 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. Atria Investments LLC raised its stake in Owens-Illinois by 1.3% during the second quarter. Atria Investments LLC now owns 11,342 shares of the industrial products company’s stock valued at $271,000 after buying an additional 142 shares during the last quarter. Advisor Group Inc. raised its stake in Owens-Illinois by 0.9% during the second quarter. Advisor Group Inc. now owns 16,417 shares of the industrial products company’s stock valued at $393,000 after buying an additional 150 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Owens-Illinois by 1.5% during the second quarter. Contravisory Investment Management Inc. now owns 13,982 shares of the industrial products company’s stock valued at $334,000 after buying an additional 203 shares during the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in Owens-Illinois by 2.4% during the second quarter. First Allied Advisory Services Inc. now owns 11,600 shares of the industrial products company’s stock valued at $277,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Owens-Illinois Company Profile

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.

Analyst Recommendations for Owens-Illinois (NYSE:OI)

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