O-I Glass (NYSE:OI) Stock Price Up 3.5% – Should You Buy?

Shares of O-I Glass, Inc. (NYSE:OI) were up 3.5% during trading on Tuesday . The company traded as high as $10.81 and last traded at $10.79. Approximately 90,624 shares traded hands during trading, a decline of 95% from the average daily volume of 1,651,398 shares. The stock had previously closed at $10.43.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OI shares. Barclays cut their price target on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Citigroup increased their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada cut 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 report on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Trading Up 3.3 %

The stock has a fifty day moving average of $11.89 and a two-hundred day moving average of $11.99. The company has a market capitalization of $1.67 billion, a PE ratio of -3.90 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.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that O-I Glass, Inc. will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On O-I Glass

A number of institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of O-I Glass in the 3rd quarter worth approximately $27,000. GAMMA Investing LLC increased its holdings in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,892 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of O-I Glass by 1,337.5% in the 2nd 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 boosted its stake in O-I Glass by 28.4% in the 3rd 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 in the last quarter. Finally, KBC Group NV increased its stake in O-I Glass by 38.9% during 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 in the last quarter. 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.