Owens-Illinois Inc. (NYSE:OI) reported third-quarter earnings

Jefferies Cuts Price Target On Owens Corning Despite Bullish View

Several equities analysts recently issued reports on OI shares. Analyst forecasts, earnings estimates and price target projections are issued to help their clients make money through stock investments. These analysts polled by Zacks Research now have a mean target price of $56.6 on the stock. Zacks Investment Research downgraded Owens Corning from a "buy" rating to a "hold" rating in a report on Wednesday, October 5th. 16 Analysts reported that the Price Target for Owens Corning might touch $63 high while the Average Price Target and Low price Target is $55.94 and $43 respectively. Breaking those down we see that the ratings are as follows: 3 Strong Buy, 1 Rated Buy, 7 Rated Hold and 0 Rated Sell. The highest target is now $63 and the most conservative target sees the stock hitting $42 within the year. 10 brokerage firms are now covering Owens Corning Inc.

Insiders at the company look pessimistic about the outlook as they seem to offload shares while they have 7.57 jumped so far this year. OC has recorded a 50-day average of $52.47 and a 200-day moving average of $51.96. The 52-week high of the shares is $23.66 while the 52-week low is $11.58. Hartford Invest Mgmt Company holds 0.01% of its portfolio in Owens-Illinois Inc (NYSE:OI) for 35,059 shares. Owens-Illinois had a positive return on equity of 67.16% and a negative net margin of 0.20%.

According to Financial Times, The 13 analysts offering 12 month price targets for Owens-Illinois Inc have a median target of 20.00, with a high estimate of 27.00 and a low estimate of 17.50. KeyCorp analyst A. Josephson now expects that the firm will post earnings per share of $0.47 for the quarter, down from their prior estimate of $0.50. The firm's revenue for the quarter was up 9.3% on a year-over-year basis.

Owens-Illinois, Inc. (NYSE:OI) now has mean rating of 2.70 while 2 analysts have commented the shares as "BUY", 2 recommended as "OUTPERFORM" and 10 commented as "HOLD".

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. The firm earned "Buy" rating on Monday, October 19 by Deutsche Bank. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 16.259 and a beta of 1.96.

During last 5 trades the stock sticks nearly -4.53%. BlackRock Institutional Trust Company N.A. now owns 4,257,646 shares of the company's stock valued at $76,680,000 after buying an additional 41,533 shares in the last quarter. (NYSE:OI), according to U.S. Securities and Exchange Commission (SEC) filings. Also, Director W Howard Morris sold 4,000 shares of Owens Corning stock in a transaction on Friday, July 29th. The disclosure for this sale can be found here.

Owens Corning is a holding company. Finally, Globeflex Capital L P purchased a new position in shares of Owens-Illinois during the second quarter valued at $197,000. BlackRock Fund Advisors boosted its stake in Owens-Illinois by 4.6% in the second quarter. Twst.com's article titled: "Owens Illinois Inc.: O-I REPORTS THIRD QUARTER 2016 RESULTS; Steady ..." and published on October 25, 2016 is yet another important article.

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