Owens-Illinois (OI) : Traders are bullish on Owens-Illinois (OI) as it has outperformed the S&P 500 by a wide margin of 6.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.32%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.76% in the last 1 week, and is up 9.63% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Owens-Illinois (NYSE:OI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.99 and $18.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.12, notching a gain of 1.70% for the day. The total traded volume was 1,327,966 . The stock had closed at $18.80 on the previous day.
The stock has recorded a 20-day Moving Average of 4.44% and the 50-Day Moving Average is 3.31%. Owens-Illinois, Inc. is up 1.86% in the last 3-month period. Year-to-Date the stock performance stands at 9.76%.
Owens-Illinois (OI) : The consensus price target for Owens-Illinois (OI) is $21 for the short term with a standard deviation of $1.26. The most optimist securities analyst among the 6 who monitor the stock believes that the stock can reach $23, however, the pessimist price target for the company is $20.
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.