O-I Glass, Inc. (NYSE:OI) Receives $16.25 Average PT from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.25.

A number of equities analysts have recently commented on the company. Royal Bank of Canada cut their price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays reduced their price target 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. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup lifted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised shares of 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.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OI. Highland Peak Capital LLC bought a new stake in shares of O-I Glass in the 3rd quarter worth about $27,132,000. Segall Bryant & Hamill LLC bought a new stake in shares of O-I Glass in the 3rd quarter valued at approximately $32,350,000. Allspring Global Investments Holdings LLC increased its holdings in shares of O-I Glass by 33.9% in the 3rd 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 last quarter. Maverick Capital Ltd. bought a new position in O-I Glass during the third quarter worth $1,264,000. Finally, Private Management Group Inc. lifted 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 worth $27,884,000 after purchasing an additional 439,838 shares during the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Trading Down 1.5 %

Shares of O-I Glass stock opened at $12.54 on Friday. The firm has a market cap of $1.94 billion, a PE ratio of -4.54 and a beta of 1.20. The business’s fifty day moving average is $12.68 and its two-hundred day moving average is $12.18. O-I Glass has a fifty-two week low of $10.08 and a fifty-two week high of $17.58. 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 released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts anticipate that O-I Glass will post 0.76 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.