O-I Glass’ (OI) Outperform Rating Reiterated at Royal Bank of Canada

O-I Glass (NYSE:OI)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report released on Monday,Benzinga reports. They presently have a $16.00 price objective on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 32.84% from the stock’s previous close.

OI has been the subject of several other reports. Citigroup dropped their price objective 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. Bank of America boosted their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.38.

O-I Glass Price Performance

Shares of OI traded up $0.38 during mid-day trading on Monday, hitting $12.05. 195,651 shares of the company traded hands, compared to its average volume of 1,453,362. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -16.87, a PEG ratio of 0.24 and a beta of 1.20. The business has a 50-day moving average of $11.24 and a 200 day moving average of $11.88. O-I Glass has a one year low of $9.85 and a one year high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. As a group, equities analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in O-I Glass in the fourth quarter valued at $45,000. Sterling Capital Management LLC grew its holdings in shares of O-I Glass by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 4,343 shares in the last quarter. KBC Group NV grew its holdings in shares of O-I Glass by 38.9% in the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 1,521 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of O-I Glass in the third quarter valued at about $77,000. Finally, New Age Alpha Advisors LLC bought a new stake in O-I Glass during the fourth quarter worth about $86,000. 97.24% of the stock is owned by institutional investors and hedge funds.

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.