O-I Glass, Inc. (NYSE:OI) Given Consensus Rating of “Moderate Buy” by Brokerages

O-I Glass, Inc. (NYSE:OI) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $16.25.

Several equities research analysts have recently commented on OI shares. Barclays lowered 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. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Thursday, October 17th. StockNews.com raised 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 price objective on O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Citigroup upped their price objective on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its stake in O-I Glass by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the industrial products company’s stock valued at $871,000 after buying an additional 1,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of O-I Glass by 95.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,573 shares of the industrial products company’s stock worth $630,000 after acquiring an additional 27,669 shares during the period. Panagora Asset Management Inc. lifted its position in O-I Glass by 33.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 725,149 shares of the industrial products company’s stock valued at $8,071,000 after acquiring an additional 183,456 shares in the last quarter. Innealta Capital LLC acquired a new position in O-I Glass in the 2nd quarter worth $104,000. Finally, Lee Danner & Bass Inc. bought a new position in O-I Glass during the 2nd quarter worth about $1,404,000. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Up 1.3 %

NYSE OI opened at $10.43 on Thursday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -3.78 and a beta of 1.20. O-I Glass has a 52 week low of $9.85 and a 52 week high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The stock has a fifty day moving average of $11.89 and a 200-day moving average of $11.99.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. On average, equities research analysts forecast that O-I Glass will post 0.76 EPS for the current year.

About O-I Glass

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.