Owens-Illinois (OI) : Analyst Rating Update

Owens-Illinois (OI) : 2 brokerage houses believe that Owens-Illinois (OI) is a Strong Buy at current levels. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Owens-Illinois (OI). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 8 Wall Street Analysts endorse the stock as a Buy with a rating of 2.5.

Owens-Illinois (OI) : The most positive equity analysts on Owens-Illinois (OI) expects the shares to touch $22, whereas, the least positive believes that the stock will trade at $18 in the short term. The company is covered by 6 Wall Street Brokerage Firms. The average price target for shares are $19.83 with an expected fluctuation of $1.6 from the mean.

Owens-Illinois (NYSE:OI): The stock opened at $16.71 on Wednesday but the bulls could not build on the opening and the stock topped out at $16.83 for the day. The stock traded down to $16.33 during the day, due to lack of any buying support eventually closed down at $16.81 with a loss of -0.12% for the day. The stock had closed at $16.83 on the previous day. The total traded volume was 2,881,177 shares.

Also, Goldman Sachs assumes its rating on Owens-Illinois (NYSE:OI). The global brokerage major announces a current price target of $18 per share. Analysts at the Goldman Sachs have a current rating of Sell on the shares. The rating by the firm was issued on June 1, 2016. The company shares have dropped -22.62% from its 1 Year high price. On Oct 23, 2015, the shares registered one year high at $24.05 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $18.71 and the 200 Day Moving Average price is recorded at $16.46.

Owens-Illinois, Inc. is the manufacturer of glass containers. The Company has approximately 75 glass manufacturing plants in over 21 countries. Its product lines include glass containers for the food and beverage industries. The Company operates in four segments: Europe, North America, South America and Asia Pacific. The Europe segment primarily produces glass containers for beer, wine, champagne, spirits and food markets. The North America segment has glass container manufacturing plants in the United States and Canada. The South America segment primarily produces glass containers for beer, non-alcoholic beverages, spirits, flavored malt beverages, wine, food and pharmaceuticals markets. The Asia Pacific segment primarily produces glass containers for the beer, wine, food and non-alcoholic beverage markets. The Company also produces glass packaging for a variety of food items, soft drinks, teas, juices and pharmaceuticals.

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