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

Shares of O-I Glass, Inc. (NYSE:OI) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $15.38.

Several equities analysts have recently commented on the company. Royal Bank of Canada reduced their target price 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. Bank of America increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Barclays decreased their price target on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st.

O-I Glass Stock Performance

O-I Glass stock opened at $11.12 on Monday. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -4.03 and a beta of 1.21. The firm’s fifty day moving average price is $11.23 and its 200 day moving average price is $11.93.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, research analysts forecast that O-I Glass will post 0.75 EPS for the current fiscal year.

Institutional Trading of O-I Glass

Several hedge funds have recently made changes to their positions in OI. Segall Bryant & Hamill LLC bought a new position in O-I Glass during the 3rd quarter worth $32,350,000. Highland Peak Capital LLC acquired a new position in shares of O-I Glass during the third quarter valued at $27,132,000. Assenagon Asset Management S.A. grew its position in shares of O-I Glass by 111.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,401,400 shares of the industrial products company’s stock worth $15,191,000 after acquiring an additional 737,123 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of O-I Glass by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after acquiring an additional 573,300 shares during the period. Finally, Private Management Group Inc. lifted its position in O-I Glass by 20.8% in the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after purchasing an additional 520,452 shares during the last quarter. Institutional investors 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.