Brokerages Set O-I Glass, Inc. (NYSE:OI) Target Price at $15.38

Shares of O-I Glass, Inc. (NYSE:OI) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.38.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Citigroup lowered their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada decreased their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Barclays dropped their price target 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 Up 0.4 %

Shares of OI stock opened at $11.12 on Monday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -4.03 and a beta of 1.21. 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 has a 50-day moving average price of $11.23 and a 200 day moving average price of $11.93. O-I Glass has a twelve month low of $9.85 and a twelve month high of $17.58.

O-I Glass (NYSE:OI) last posted 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). O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm earned $0.80 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts forecast that O-I Glass will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On O-I Glass

Several large investors have recently made changes to their positions in OI. JPMorgan Chase & Co. lifted its holdings in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock valued at $8,130,000 after acquiring an additional 94,671 shares in the last quarter. Highland Peak Capital LLC acquired a new position in shares of O-I Glass during the third quarter worth about $27,132,000. Barclays PLC lifted its stake 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 in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of O-I Glass in the third quarter worth about $1,264,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of O-I Glass in the third quarter valued at about $32,350,000. 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.