O-I Glass, Inc. (NYSE:OI) Receives $16.25 Consensus Target Price from Brokerages

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

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

O-I Glass Trading Down 0.3 %

Shares of O-I Glass stock opened at $10.30 on Thursday. The firm has a market capitalization of $1.59 billion, a PE ratio of -3.73 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The firm’s 50 day moving average is $11.94 and its 200 day moving average is $12.00. O-I Glass has a 1 year low of $9.85 and a 1 year high of $17.58.

O-I Glass (NYSE:OI) last issued 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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate 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 company’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. Equities research analysts forecast that O-I Glass will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

Several hedge funds have recently modified their holdings of the company. Highland Peak Capital LLC purchased a new stake in shares of O-I Glass during the 3rd quarter valued at $27,132,000. Barclays PLC raised its position in O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after acquiring an additional 203,037 shares during the period. Maverick Capital Ltd. purchased a new position in O-I Glass in the third quarter valued at about $1,264,000. Segall Bryant & Hamill LLC bought a new position in shares of O-I Glass during the 3rd quarter valued at approximately $32,350,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of O-I Glass by 33.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company’s stock worth $2,264,000 after purchasing an additional 43,724 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.

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.