O-I Glass (NYSE:OI) Rating Reiterated by Truist Financial

Truist Financial reiterated their buy rating on shares of O-I Glass (NYSE:OI) in a research report report published on Monday morning, Benzinga reports. They currently have a $20.00 target price on the industrial products company’s stock.

Several other research firms have also weighed in on OI. Citigroup lowered O-I Glass from a buy rating to a neutral rating and lifted their price target for the company from $17.00 to $18.00 in a research report on Wednesday, January 3rd. UBS Group started coverage on O-I Glass in a report on Tuesday, January 16th. They issued a buy rating and a $26.00 target price on the stock. StockNews.com downgraded O-I Glass from a buy rating to a hold rating in a report on Thursday, February 15th. Barclays boosted their target price on O-I Glass from $16.00 to $18.00 and gave the stock an equal weight rating in a report on Tuesday, February 13th. Finally, TheStreet downgraded O-I Glass from a b- rating to a c- rating in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $24.00.

O-I Glass Price Performance

OI opened at $16.19 on Monday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.77 and a current ratio of 1.23. O-I Glass has a 52-week low of $13.56 and a 52-week high of $23.57. The stock has a market capitalization of $2.49 billion, a PE ratio of -21.59, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35. The stock’s 50 day moving average price is $15.88 and its 200-day moving average price is $15.84.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that O-I Glass will post 2.38 EPS for the current year.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OI. Alberta Investment Management Corp boosted its position in O-I Glass by 152.3% during the 2nd quarter. Alberta Investment Management Corp now owns 159,814 shares of the industrial products company’s stock valued at $3,409,000 after acquiring an additional 96,480 shares in the last quarter. Van ECK Associates Corp boosted its position in O-I Glass by 414.2% during the 3rd quarter. Van ECK Associates Corp now owns 129,826 shares of the industrial products company’s stock valued at $2,172,000 after acquiring an additional 104,576 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in O-I Glass during the 3rd quarter valued at $1,757,000. New York State Common Retirement Fund boosted its position in O-I Glass by 14.4% during the 3rd quarter. New York State Common Retirement Fund now owns 523,860 shares of the industrial products company’s stock valued at $8,764,000 after acquiring an additional 65,835 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in O-I Glass by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 1,672,400 shares of the industrial products company’s stock valued at $27,979,000 after acquiring an additional 121,495 shares in the last quarter. 97.24% of the stock is owned by institutional investors.

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.