Short Term Price Target on Owens-Illinois (OI)

Owens-Illinois (NYSE:OI) : The most positive equity analysts on Owens-Illinois (NYSE: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, Inc. has lost 9.04% in the last five trading days and dropped 4.61% in the last 4 weeks. Owens-Illinois, Inc. is up 11.93% in the last 3-month period. Year-to-Date the stock performance stands at 3.39%. Also, Goldman Sachs assumes their rating on the shares of Owens-Illinois (NYSE:OI). The current rating of the shares is Sell. Equity Analysts at the Firm announces the price target to $18 per share. The rating by the firm was issued on June 1, 2016.

Owens-Illinois (NYSE:OI) : 2 brokerage houses believe that Owens-Illinois (NYSE: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 (NYSE:OI). Zacks Investment Research suggests a Strong Buy with a rank of 1.The median of all the 8 Wall Street Analysts endorse the stock as a Buy with a rating of 2.5.

Owens-Illinois (NYSE:OI): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.38 and $17.09 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.03. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.01, notching a gain of 3.92% for the day. The total traded volume was 2,789,630 . The stock had closed at $17.33 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Owens Illinois Inc /De/, Hardie Gordon had purchased shares worth of $63,410 in a transaction dated on June 15, 2016. A total of 3,400 shares were purchased at a price of $18.65 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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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