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Owens-Illinois rating increased to buy

As per a report issued on 13 June, Bank of America has upgraded Owens-Illinois’ stock from a “neutral” rating to a “buy” rating. Analysts at Citigroup Inc. cut their price target from USD 37.00 to USD 36.00 while analysts at Zacks reiterated a “neutral” rating.

Owens-Illinois was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Friday, 13 June. The firm currently has a USD 38.00 target price on the stock. Bank of America’s price target points to a potential upside of 16.07% from the company’s current price.
Analysts at Citigroup Inc. cut their price target on shares of Owens-Illinois from USD 37.00 to USD 36.00 in a research note on 6 May. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Owens-Illinois in a research note on Thursday, 1 May. They now have a USD 33.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of Owens-Illinois from a “hold” rating to a “buy” rating in a research note on 1 May. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Owens-Illinois has an average rating of “Buy” and a consensus target price of USD 36.70.
Shares of Owens-Illinois opened at 32.74 on 13 June. Owens-Illinois has a one-year low of USD 26.31 and a one-year high of USD 35.95. The stock’s 50-day moving average is USD 32.66 and its 200-day moving average is USD 33.24. The company has a market cap of USD 5.405 billion and a P/E ratio of 25.28.
Owens-Illinois last posted its quarterly earnings results on 29 April. The company reported USD 0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of USD 0.61 by USD 0.01. The company had revenue of USD 1.60 billion for the quarter, compared to the consensus estimate of USD 1.62 billion. During the same quarter last year, the company posted USD 0.60 earnings per share. Analysts expect that Owens-Illinois will post USD 2.97 EPS for the current fiscal year.
Owens-Illinois, Inc is a manufacturer of glass containers with 81 glass manufacturing in plants 21 countries.

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