Owens-Illinois, Inc. (OI - Free Report) recently secured a multi-year contract from Reed’s, Inc. (REED - Free Report) to supply glass containers. Per the contract, Owens-Illinois will provide bottles in order to expand the reach of Reed’s all-natural craft beverages.
Based in Los Angeles, CA, Reed's develops, manufactures and markets top-selling sodas in natural foods markets. The latest deal with Owens-Illinois will simplify Reed's supply chain and drive significant cost savings. The contract will also help deliver improved package quality with sustainable, high-quality, brand-building glass bottles, and lower Reed's working capital commitment to glass inventory.
In addition to the above, the contract will assist Owens-Illinois to cope with contraction in the beer market and negative impact of hurricanes in North America sales in the fourth quarter. The largest glass-container maker has been battling the persistent decline in mega beer sales by repositioning the enterprise through joint ventures with Constellation Brands and some supply contracts.
For 2017, Owens-Illinois remains on track to achieve all financial targets, including volume growth, margin, adjusted earnings, and cash flow. Its focus on simplifying the organization and boosting productivity will drive long-term growth.
Moreover, the company continues to successfully execute its strategic initiatives in commercial activities, end-to-end supply chain management and working capital reduction.
Share Price Performance
In the past year, Owens-Illinois has outperformed its industry with respect to price performance. The stock has gained around 34.7%, while the industry recorded growth of 23.3% during the same time frame.
Zacks Rank & Key Picks
Owens-Illinois currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space are Caterpillar Inc. (CAT - Free Report) and Deere & Company (DE - Free Report) . Both stocks flaunt a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar has a long-term earnings growth rate of 10.3%. Its shares have been up 49.9%, year to date.
Deere has a long-term earnings growth rate of 8.2%. So far this year, its shares have gained 49.1%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Owens-Illinois, Inc. (OI - Free Report) recently secured a multi-year contract from Reed’s, Inc. (REED - Free Report) to supply glass containers. Per the contract, Owens-Illinois will provide bottles in order to expand the reach of Reed’s all-natural craft beverages.
Based in Los Angeles, CA, Reed's develops, manufactures and markets top-selling sodas in natural foods markets. The latest deal with Owens-Illinois will simplify Reed's supply chain and drive significant cost savings. The contract will also help deliver improved package quality with sustainable, high-quality, brand-building glass bottles, and lower Reed's working capital commitment to glass inventory.
In addition to the above, the contract will assist Owens-Illinois to cope with contraction in the beer market and negative impact of hurricanes in North America sales in the fourth quarter. The largest glass-container maker has been battling the persistent decline in mega beer sales by repositioning the enterprise through joint ventures with Constellation Brands and some supply contracts.
For 2017, Owens-Illinois remains on track to achieve all financial targets, including volume growth, margin, adjusted earnings, and cash flow. Its focus on simplifying the organization and boosting productivity will drive long-term growth.
Moreover, the company continues to successfully execute its strategic initiatives in commercial activities, end-to-end supply chain management and working capital reduction.
Share Price Performance
In the past year, Owens-Illinois has outperformed its industry with respect to price performance. The stock has gained around 34.7%, while the industry recorded growth of 23.3% during the same time frame.
Zacks Rank & Key Picks
Owens-Illinois currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space are Caterpillar Inc. (CAT - Free Report) and Deere & Company (DE - Free Report) . Both stocks flaunt a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar has a long-term earnings growth rate of 10.3%. Its shares have been up 49.9%, year to date.
Deere has a long-term earnings growth rate of 8.2%. So far this year, its shares have gained 49.1%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on OI - FREE
Get the latest research report on CAT - FREE
Get the latest research report on DE - FREE
Get the latest research report on REED - FREE