O-I Glass, Inc. (NYSE:OI) Receives $16.63 Consensus Target Price from Analysts

O-I Glass, Inc. (NYSE:OI) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.63.

A number of research analysts have recently weighed in on OI shares. Wells Fargo & Company dropped their target price on O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Royal Bank of Canada cut their price objective on shares of O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Barclays reduced their target price on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Citigroup raised their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, UBS Group reduced their price objective on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th.

Insider Activity

In other news, Director John Humphrey acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the completion of the purchase, the director now owns 84,227 shares in the company, valued at approximately $951,765.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.49% of the company’s stock.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Diversified Trust Co lifted its position in shares of O-I Glass by 2.0% during the third quarter. Diversified Trust Co now owns 49,596 shares of the industrial products company’s stock worth $651,000 after acquiring an additional 965 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of O-I Glass by 6.1% in the second quarter. Mackenzie Financial Corp now owns 20,091 shares of the industrial products company’s stock worth $224,000 after buying an additional 1,162 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of O-I Glass by 40.2% in the first quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 1,318 shares during the period. Texas Permanent School Fund Corp grew its stake in O-I Glass by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock valued at $2,242,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of O-I Glass by 8.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 21,281 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 1,695 shares during the period. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Price Performance

Shares of NYSE OI opened at $13.13 on Friday. The firm has a market capitalization of $2.04 billion, a P/E ratio of -8.26, a P/E/G ratio of 1.88 and a beta of 1.17. The firm’s 50-day moving average price is $12.50 and its 200-day moving average price is $12.79. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. O-I Glass has a 1-year low of $10.08 and a 1-year high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts anticipate that O-I Glass will post 1.13 earnings per share for the current fiscal year.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.