Can Owens-Illinois Inc (OI)’s Tomorrow be Different? The Stock Formed a Bullish Double Top

September 17, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.07 in 2016 Q4. Its down 0.19, from 1.26 in 2016Q3. It turned negative, as 52 investors sold Owens-Illinois Inc shares while 89 reduced holdings. 56 funds opened positions while 95 raised stakes. 149.18 million shares or 3.88% more from 143.61 million shares in 2016Q3 were reported.
Teachers Retirement Of The State Of Kentucky holds 39,900 shares. Tarbox has invested 0% in Owens-Illinois Inc (NYSE:OI). Moreover, Nomura has 0% invested in Owens-Illinois Inc (NYSE:OI). Wedge Cap L Lp Nc owns 4.90 million shares for 0.83% of their portfolio. Stevens Capital Management L P has 57,363 shares. Calvert Management Inc invested in 0.01% or 22,036 shares. Numeric Investors Ltd Liability Co has invested 0.03% in Owens-Illinois Inc (NYSE:OI). Point72 Asset Mgmt Limited Partnership holds 0.1% of its portfolio in Owens-Illinois Inc (NYSE:OI) for 824,200 shares. Cubist Systematic Strategies Ltd Liability Com stated it has 10,529 shares. Foundry Limited Liability Co holds 0.18% or 242,594 shares. Sasco Ct stated it has 3.09% in Owens-Illinois Inc (NYSE:OI). Bnp Paribas Arbitrage holds 128,374 shares. Credit Suisse Ag, Switzerland-based fund reported 525,413 shares. Menta Capital Ltd reported 83,699 shares. Germany-based Allianz Asset Mgmt Ag has invested 0.01% in Owens-Illinois Inc (NYSE:OI).

The chart of Owens-Illinois Inc (OI) shows a double top with $26.13 target or 6.00 % above today’s $24.65 share price. The 8 months chart pattern indicates low risk for the $4.01 billion company. It was reported on Sep, 17 by Finviz.com. If the $26.13 price target is reached, the company will be worth $240.60M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.76% or $0.19 on September 15, reaching $24.65. About 1.44M shares traded or 17.07% up from the average. Owens-Illinois Inc (NYSE:OI) has risen 20.39% since September 17, 2016 and is uptrending. It has outperformed by 3.69% the S&P500.

Wall Street await Owens-Illinois Inc (NYSE:OI) to release earnings on October, 24. Analysts forecast EPS of $0.74, up exactly $0.06 or 8.82 % from 2014’s $0.68 EPS. The expected OI’s profit could reach $120.38 million giving the stock 8.33 P/E in the case that $0.74 earnings per share is reported. After posting $0.75 EPS for the previous quarter, Owens-Illinois Inc’s analysts now forecast -1.33 % negative EPS growth.

Owens-Illinois Inc (NYSE:OI) Ratings Coverage

Among 13 analysts covering Owens-Illinois Inc (NYSE:OI), 3 have Buy rating, 1 Sell and 9 Hold. Therefore 23% are positive. Owens-Illinois Inc had 34 analyst reports since July 31, 2015 according to SRatingsIntel. The stock has “Buy” rating by Citigroup on Wednesday, April 6. The rating was maintained by BMO Capital Markets on Monday, April 24 with “Hold”. The firm earned “Hold” rating on Thursday, July 13 by RBC Capital Markets. The stock of Owens-Illinois Inc (NYSE:OI) has “Hold” rating given on Wednesday, August 2 by Jefferies. BMO Capital Markets maintained it with “Hold” rating and $2500 target in Wednesday, July 19 report. The stock has “Hold” rating by RBC Capital Markets on Tuesday, September 5. BMO Capital Markets maintained Owens-Illinois Inc (NYSE:OI) on Friday, June 30 with “Hold” rating. The firm has “Hold” rating given on Friday, July 31 by TheStreet. The stock has “Hold” rating by KeyBanc Capital Markets on Wednesday, August 23. The stock of Owens-Illinois Inc (NYSE:OI) earned “Equal-Weight” rating by Barclays Capital on Monday, August 7.

Another recent and important Owens-Illinois Inc (NYSE:OI) news was published by Nasdaq.com which published an article titled: “Why You Must Add Owens-Illinois (OI) Stock to Your Portfolio” on September 05, 2017.

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