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

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.25.

A number of equities analysts recently issued reports on OI shares. Citigroup increased their target price 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. UBS Group cut their target price on 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. Bank of America upgraded O-I Glass from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. Robert W. Baird cut their price objective on O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Finally, StockNews.com lowered O-I Glass from a “hold” rating to a “sell” rating in a report on Monday, November 4th.

O-I Glass Price Performance

Shares of OI opened at $12.82 on Wednesday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -4.64 and a beta of 1.20. The stock has a 50 day moving average of $12.62 and a 200-day moving average of $12.34. 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 52 week low of $10.08 and a 52 week high of $17.58.

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

Institutional Investors Weigh In On O-I Glass

Several large investors have recently made changes to their positions in OI. Harbor Capital Advisors Inc. acquired a new position in shares of O-I Glass during the 3rd quarter valued at about $27,000. Newbridge Financial Services Group Inc. lifted its stake in shares of O-I Glass by 1,337.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after buying an additional 2,675 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,892 shares during the period. Fidelis Capital Partners LLC acquired a new position in O-I Glass in the 1st quarter valued at $33,000. Finally, Headlands Technologies LLC bought a new position in O-I Glass in the 1st quarter worth $39,000. Institutional investors own 97.24% of the company’s stock.

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.