Brokerages Set O-I Glass, Inc. (NYSE:OI) PT at $19.56

Shares of O-I Glass, Inc. (NYSE:OI) have been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.56.

A number of brokerages recently issued reports on OI. Royal Bank of Canada decreased their target price on shares of O-I Glass from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. TheStreet cut O-I Glass from a “b-” rating to a “c-” rating in a report on Tuesday, February 6th. Barclays dropped their target price on O-I Glass from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Truist Financial reissued a “buy” rating and issued a $17.00 price target (down from $20.00) on shares of O-I Glass in a research note on Thursday, May 2nd. Finally, StockNews.com cut O-I Glass from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd.

O-I Glass Price Performance

Shares of NYSE:OI opened at $12.93 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.56 and a current ratio of 1.02. The business’s fifty day moving average price is $14.92 and its two-hundred day moving average price is $15.41. The stock has a market cap of $2.01 billion, a PE ratio of -8.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.36. O-I Glass has a one year low of $12.40 and a one year high of $23.57.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 earnings per share. On average, analysts forecast that O-I Glass will post 1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of 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. Levin Capital Strategies L.P. lifted its stake in shares of O-I Glass by 55.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 1,691,765 shares of the industrial products company’s stock worth $27,711,000 after purchasing an additional 600,239 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of O-I Glass in the fourth quarter worth about $4,095,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of O-I Glass in the third quarter valued at about $1,757,000. Finally, New York State Common Retirement Fund raised its holdings in shares of 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 buying an additional 65,835 shares during the period. 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.