Owens-Illinois Receives a Hold from BMO Capital

By Carrie Williams

In a report issued on August 25, Mark Wilde from BMO Capital reiterated a Hold rating on Owens-Illinois (NYSE: OI), with a price target of $25. The company’s shares closed on Friday at $24.08, close to its 52-week high of $25.02.

According to TipRanks.com, Wilde is a 5-star analyst with an average return of 10.8% and a 67.2% success rate. Wilde covers the Consumer Goods sector, focusing on stocks such as Multi Packaging Solutions, International Paper Co, and Graphic Packaging.

Currently, the analyst consensus on Owens-Illinois is Hold and the average price target is $25.40, representing a 5.5% upside.

In a report issued on August 23, KeyBanc also reiterated a Hold rating on the stock.

Based on Owens-Illinois’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.75 billion and quarterly net profit of $140 million. In comparison, last year the company earned revenue of $1.76 billion and had a net profit of $105 million.

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Owens-Illinois, Inc. engages in the manufacture and supply of glass containers for beverages. It provides glass packaging to alcoholic beverages, soft drinks, juices, and pharmaceuticals. The company was founded by Michael J. Owens in 1903 and is headquartered in Perrysburg, OH.