Bank of America Raises O-I Glass (NYSE:OI) Price Target to $15.00

O-I Glass (NYSE:OI) had its price objective increased by research analysts at Bank of America from $14.00 to $15.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective would suggest a potential upside of 40.32% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Citigroup lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Royal Bank of Canada cut their price target 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. Wells Fargo & Company decreased their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Barclays reduced their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Stock Down 2.6 %

NYSE:OI opened at $10.69 on Monday. O-I Glass has a 52 week low of $9.85 and a 52 week high of $17.58. The stock’s fifty day moving average is $11.71 and its two-hundred day moving average is $11.97. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -3.87 and a beta of 1.21. 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 posted its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Research analysts anticipate that O-I Glass will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OI. Harbor Capital Advisors Inc. acquired a new stake in O-I Glass during the 3rd quarter worth $27,000. Newbridge Financial Services Group Inc. lifted its holdings 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 valued at $32,000 after purchasing an additional 2,675 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of O-I Glass by 371.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,892 shares during the period. Nisa Investment Advisors LLC grew its stake in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,136 shares during the last quarter. Finally, KBC Group NV increased its position in O-I Glass by 38.9% during the third quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after buying an additional 1,521 shares during the period. Institutional investors and hedge funds 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.