Owens-Illinois Inc (OI) is Initiated by RBC Capital Mkts to Sector Perform, Price Target at $18

Owens-Illinois Inc (OI) was Initiated by RBC Capital Mkts to “Sector Perform” and the brokerage firm has set the Price Target at $18. RBC Capital Mkts advised their investors in a research report released on Sep 30, 2016.

On the company’s financial health, Owens-Illinois Inc reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.63. The company had revenue of $1760.00 million for the quarter, compared to analysts expectations of $1727.12 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Owens-Illinois Inc opened for trading at $17.64 and hit $18.06 on the upside on Tuesday, eventually ending the session at $17.91, with a gain of 1.19% or 0.21 points. The heightened volatility saw the trading volume jump to 16,99,216 shares. Company has a market cap of $2,903 M.

In a different news, on Jun 16, 2016, Gordon Hardie (director) purchased 3,400 shares at $18.65 per share price. According to the SEC, on Mar 9, 2016, Albert P L Stroucken (Exec. Chairman of the Board) sold 56,148 shares at $14.94 per share price. On Mar 8, 2016, John Haudrich (Chief Strat. & Integ. Officer) sold 7,294 shares at $15.36 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Owens-Illinois Inc

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