Brokerages Set O-I Glass, Inc. (NYSE:OI) Price Target at $16.25

O-I Glass, Inc. (NYSE:OI) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $16.25.

A number of equities analysts recently commented on the company. Barclays decreased their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Citigroup boosted their price target on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th.

O-I Glass Price Performance

Shares of O-I Glass stock opened at $12.54 on Friday. The business has a 50 day moving average of $12.68 and a 200 day moving average of $12.18. O-I Glass has a 52 week low of $10.08 and a 52 week high of $17.58. The company has a market cap of $1.94 billion, a PE ratio of -4.54 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that O-I Glass will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of O-I Glass during the 3rd quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. raised its holdings in O-I Glass by 1,337.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 2,675 shares during the last quarter. GAMMA Investing LLC grew its holdings in O-I Glass by 371.0% in the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,892 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in O-I Glass by 28.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,136 shares during the last quarter. Finally, KBC Group NV increased its position in shares of O-I Glass by 38.9% in the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,521 shares in the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

About O-I Glass

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.