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

O-I Glass, Inc. (NYSE:OI) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Three equities research 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 covered the stock in the last year is $16.25.

Several research analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. UBS Group decreased their price objective on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company dropped their target price on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup dropped their price objective on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, July 8th.

Insider Transactions at O-I Glass

In other news, Director John Humphrey purchased 15,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the purchase, the director now directly owns 84,227 shares in the company, valued at approximately $951,765.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.49% of the company’s stock.

Institutional Trading of O-I Glass

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its position 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 purchasing an additional 1,162 shares during the period. Bessemer Group Inc. increased its stake in O-I Glass by 40.2% in the 1st quarter. Bessemer Group Inc. now owns 4,597 shares of the industrial products company’s stock worth $76,000 after buying an additional 1,318 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in O-I Glass by 37.3% during the fourth quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 1,404 shares during the period. Comerica Bank lifted its position in shares of O-I Glass by 1.8% in the fourth quarter. Comerica Bank now owns 81,833 shares of the industrial products company’s stock valued at $1,340,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in shares of O-I Glass by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock worth $2,242,000 after acquiring an additional 1,465 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Up 3.3 %

NYSE:OI opened at $13.42 on Tuesday. The firm has a market capitalization of $2.09 billion, a P/E ratio of -8.44, a P/E/G ratio of 1.72 and a beta of 1.17. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The company has a fifty day moving average of $12.08 and a 200 day moving average of $13.15. O-I Glass has a 52 week low of $10.08 and a 52 week high of $18.50.

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, beating analysts’ consensus estimates 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 company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $0.88 EPS. O-I Glass’s revenue was down 8.5% compared to the same quarter last year. On average, research analysts predict that O-I Glass will post 1.13 earnings per share for the current year.

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.