O-I Glass, Inc. (NYSE:OI) Receives Average Rating of “Moderate Buy” from Analysts

O-I Glass, Inc. (NYSE:OI) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.25.

A number of equities analysts have recently commented on the stock. Barclays dropped 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. Royal Bank of Canada cut their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Citigroup raised 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 O-I Glass from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, October 17th. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

Institutional Trading of O-I Glass

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

O-I Glass Stock Up 1.3 %

NYSE:OI opened at $10.43 on Thursday. O-I Glass has a 1-year low of $9.85 and a 1-year high of $17.58. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -3.78 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 business’s fifty day moving average price is $11.89 and its 200 day moving average price is $11.99.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. 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 earnings per share. On average, sell-side analysts forecast that O-I Glass will post 0.76 earnings per share for the current fiscal 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.