RBC Capital Initiates Coverage on Owens-Illinois Inc to Sector Perform

RBC Capital Initiates Coverage on Owens-Illinois Inc(NYSE:OI). The shares have been rated Sector Perform. The rating by RBC Capital was issued on Sep 30, 2016.

In a different note, On Jul 14, 2016, Jefferies said it Maintains its rating on Owens-Illinois Inc. In the research note, the firm Raises the price-target to $18.00 per share. The shares have been rated ‘Hold’ by the firm.

Owens-Illinois Inc (OI) shares turned negative on Tuesdays trading session with the shares closing down -0.13 points or -0.72% at a volume of 14,37,233. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.34. The peak price level was also seen at $18.34 while the days lowest was $17.84. Finally the shares closed at $17.98. The 52-week high of the shares is $24.05 while the 52-week low is $11.58. According to the latest information available, the market cap of the company is $2,914 M.

Owens-Illinois Inc(OI) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.76B. Analysts had an estimated revenue of $1.73B. Earnings per share were $0.65. Analysts had estimated an EPS of $0.63.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Gordon Hardie (director) purchased 3,400 shares at $18.65 per share price.Also, 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.

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