Owens-Illinois (OI) : Traders are bullish on Owens-Illinois (OI) as it has outperformed the S&P 500 by a wide margin of 1.79% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.31%, 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 3.24% in the last 1 week, and is up 5.21% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.57% and the 50-Day Moving Average is 1.68%. Owens-Illinois, Inc. is up 1.79% in the last 3-month period. Year-to-Date the stock performance stands at 7.86%.
Owens-Illinois (NYSE:OI): stock turned positive on Friday. Though the stock opened at $18.63, the bulls momentum made the stock top out at $18.81 level for the day. The stock recorded a low of $18.15 and closed the trading day at $18.79, in the green by 0.32%. The total traded volume for the day was 2,082,700. The stock had closed at $18.73 in the previous days trading.
Also, Jefferies maintains its view on Owens-Illinois (NYSE:OI) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Jefferies raises the price target from $18 per share to $20 per share on Owens-Illinois . The rating by the firm was issued on July 14, 2016.
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.