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

Shares of O-I Glass, Inc. (NYSE:OI) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.00.

A number of research analysts recently issued reports on OI shares. Barclays boosted their target price on shares of O-I Glass from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. StockNews.com cut shares of O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. UBS Group began coverage on shares of O-I Glass in a report on Tuesday, January 16th. They set a “buy” rating and a $26.00 target price on the stock. Truist Financial restated a “buy” rating and issued a $20.00 price objective on shares of O-I Glass in a report on Monday, March 25th. Finally, TheStreet downgraded shares of O-I Glass from a “b-” rating to a “c-” rating in a research report on Tuesday, February 6th.

O-I Glass Trading Up 1.1 %

Shares of O-I Glass stock opened at $16.77 on Tuesday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -22.36, a PEG ratio of 1.14 and a beta of 1.35. The business has a 50-day moving average price of $15.99 and a 200-day moving average price of $15.78. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 2.69. O-I Glass has a twelve month low of $13.56 and a twelve month high of $23.57.

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

Institutional Trading of O-I Glass

A number of large investors have recently modified their holdings of OI. Metropolitan Life Insurance Co NY boosted its holdings in shares of O-I Glass by 5.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the industrial products company’s stock worth $159,000 after buying an additional 485 shares during the period. IFP Advisors Inc increased its position in O-I Glass by 0.8% during the second quarter. IFP Advisors Inc now owns 72,414 shares of the industrial products company’s stock worth $1,545,000 after acquiring an additional 610 shares during the period. Neuberger Berman Group LLC increased its position in O-I Glass by 1.4% during the third quarter. Neuberger Berman Group LLC now owns 46,004 shares of the industrial products company’s stock worth $596,000 after acquiring an additional 656 shares during the period. State of Wyoming boosted its position in shares of O-I Glass by 7.8% during the 2nd quarter. State of Wyoming now owns 10,126 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 730 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in O-I Glass by 109.4% in the first quarter. Belpointe Asset Management LLC now owns 1,518 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 793 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.