O-I Glass, Inc. (NYSE:OI) Given Average Recommendation of “Moderate Buy” by Analysts

O-I Glass, Inc. (NYSE:OI) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $16.25.

Several equities analysts have commented on the stock. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. StockNews.com lowered O-I Glass from a “hold” rating to a “sell” rating in a report on Monday. Truist Financial restated a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Barclays lowered their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Citigroup increased 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.

O-I Glass Trading Up 5.3 %

Shares of O-I Glass stock opened at $11.95 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The stock has a fifty day simple moving average of $12.61 and a 200 day simple moving average of $12.35. O-I Glass has a 12-month low of $10.08 and a 12-month high of $17.58. The company has a market capitalization of $1.85 billion, a P/E ratio of -4.33 and a beta of 1.20.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

Several hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in O-I Glass during the 1st quarter worth about $1,021,000. Duality Advisers LP bought a new stake in shares of O-I Glass during the first quarter valued at about $1,554,000. Vanguard Group Inc. lifted its holdings in shares of O-I Glass by 1.2% in the first quarter. Vanguard Group Inc. now owns 19,362,262 shares of the industrial products company’s stock worth $321,220,000 after buying an additional 221,823 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of O-I Glass by 33.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company’s stock valued at $2,264,000 after acquiring an additional 43,724 shares during the period. Finally, Private Management Group Inc. grew its stake in O-I Glass by 21.3% during the second quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock valued at $27,884,000 after acquiring an additional 439,838 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

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.