Royal Bank Of Canada Reiterates Neutral Rating for Owens-Illinois, Inc. (OI)

Owens-Illinois, Inc. (NYSE:OI)‘s stock had its “neutral” rating reissued by research analysts at Royal Bank Of Canada in a research report issued on Tuesday.

OI has been the topic of a number of other research reports. Zacks Investment Research downgraded Owens-Illinois from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. UBS AG assumed coverage on Owens-Illinois in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $26.00 price target for the company. Robert W. Baird reiterated a “hold” rating and issued a $25.00 price target on shares of Owens-Illinois in a research note on Friday, September 1st. BidaskClub upgraded Owens-Illinois from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, ValuEngine cut Owens-Illinois from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.60.

Owens-Illinois (NYSE:OI) opened at 25.43 on Tuesday. Owens-Illinois has a 52-week low of $16.80 and a 52-week high of $25.59. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 18.43 and a beta of 1.49. The stock has a 50 day moving average price of $24.50 and a 200 day moving average price of $23.09.

Owens-Illinois (NYSE:OI) last issued its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Owens-Illinois had a return on equity of 72.15% and a net margin of 3.36%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts expect that Owens-Illinois will post $2.63 EPS 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 dated 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 directly owns 23,954 shares in the company, valued at $574,177.38. The sale 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 dated Friday, September 1st. The stock was 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 $869,807.70. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Eqis Capital Management Inc. raised its stake in shares of Owens-Illinois by 11.5% in the third quarter. Eqis Capital Management Inc. now owns 40,649 shares of the industrial products company’s stock worth $1,023,000 after purchasing an additional 4,184 shares during the last quarter. Colony Group LLC raised its stake in shares of Owens-Illinois by 2.9% in the second quarter. Colony Group LLC now owns 86,072 shares of the industrial products company’s stock worth $2,059,000 after purchasing an additional 2,412 shares during the last quarter. Sterling Capital Management LLC purchased a new position in shares of Owens-Illinois in the second quarter worth about $805,000. Ameritas Investment Partners Inc. raised its stake in shares of Owens-Illinois by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 48,688 shares of the industrial products company’s stock worth $1,165,000 after purchasing an additional 875 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Owens-Illinois by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 238,624 shares of the industrial products company’s stock worth $5,708,000 after purchasing an additional 4,750 shares during the last quarter. Hedge funds and other institutional investors own 95.06% 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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