O-I Glass, Inc. (NYSE:OI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $16.25.

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

Institutional Trading of O-I Glass

Several large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of O-I Glass in the 3rd quarter worth $27,000. GAMMA Investing LLC grew its holdings in shares of 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 period. Newbridge Financial Services Group Inc. increased its position 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. Nisa Investment Advisors LLC raised its stake in O-I Glass by 28.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares during the period. Finally, KBC Group NV boosted its holdings in O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,521 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 0.6 %

Shares of NYSE:OI opened at $10.20 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The business has a 50 day moving average of $12.10 and a two-hundred day moving average of $12.04. The company has a market capitalization of $1.58 billion, a PE ratio of -3.70 and a beta of 1.20.

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