Owens-Illinois Inc (OI)’s Stock Formed A Several Months Double Top Pattern

September 17, 2017 - By Marguerite Chambers

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.
M&T Bancorp accumulated 14,852 shares. Moreover, Piedmont Advsr Limited Liability Company has 0% invested in Owens-Illinois Inc (NYSE:OI) for 7 shares. Nordea Invest Mgmt, a Sweden-based fund reported 210,900 shares. Jpmorgan Chase And accumulated 67,512 shares or 0% of the stock. Riverhead Mgmt Ltd Limited Liability Company invested 0.02% of its portfolio in Owens-Illinois Inc (NYSE:OI). 892,983 are owned by Parametric Portfolio Associates Ltd Liability Corporation. Menta Capital Lc reported 83,699 shares stake. Mutual Of America Limited Liability Com, a New York-based fund reported 127,806 shares. Cubist Systematic Strategies Ltd Llc has invested 0.01% of its portfolio in Owens-Illinois Inc (NYSE:OI). Putnam Invests Ltd Liability Corporation has 0% invested in Owens-Illinois Inc (NYSE:OI) for 69,610 shares. 709,473 are held by Tiaa Cref Mgmt Limited Com. Utah Retirement Systems has invested 0.01% in Owens-Illinois Inc (NYSE:OI). 294,427 were reported by Rhumbline Advisers. 76,983 are owned by Liberty Mutual Grp Asset Mngmt. State Of Tennessee Treasury Department stated it has 0.01% of its portfolio 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 earnings per share of $0.74, up exactly $0.06 or 8.82 % from 2014’s $0.68 EPS. The expected OI’s profit could reach $120.38M 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 firm has “Equal-Weight” rating by Barclays Capital given on Monday, August 7. Jefferies maintained the shares of OI in report on Wednesday, August 2 with “Hold” rating. The stock has “Hold” rating by BMO Capital Markets on Wednesday, July 19. Goldman Sachs initiated the shares of OI in report on Thursday, May 12 with “Sell” rating. As per Monday, July 3, the company rating was maintained by RBC Capital Markets. As per Wednesday, April 6, the company rating was upgraded by Citigroup. The stock of Owens-Illinois Inc (NYSE:OI) earned “Hold” rating by TheStreet on Friday, July 31. The company was maintained on Wednesday, August 23 by KeyBanc Capital Markets. As per Tuesday, May 30, the company rating was maintained by RBC Capital Markets. BMO Capital Markets maintained the stock with “Hold” rating in Monday, April 24 report.

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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