O-I Glass’ (OI) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of O-I Glass (NYSE:OI) in a research note issued to investors on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $16.00 price objective on the industrial products company’s stock.

Several other analysts also recently weighed in on OI. Bank of America raised their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Citigroup reduced their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Stock Down 0.1 %

NYSE OI opened at $12.18 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The business has a 50 day moving average price of $11.29 and a two-hundred day moving average price of $11.87. The stock has a market cap of $1.88 billion, a PE ratio of -17.16, a P/E/G ratio of 0.24 and a beta of 1.20.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. As a group, sell-side analysts predict that O-I Glass will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OI. Wealthedge Investment Advisors LLC acquired a new position in shares of O-I Glass during the fourth quarter valued at approximately $241,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in O-I Glass during the 4th quarter valued at $2,573,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in O-I Glass by 30.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 365,630 shares of the industrial products company’s stock valued at $3,963,000 after purchasing an additional 84,380 shares in the last quarter. Two Sigma Investments LP increased its position in shares of O-I Glass by 44.4% during the 4th quarter. Two Sigma Investments LP now owns 710,216 shares of the industrial products company’s stock valued at $7,699,000 after purchasing an additional 218,381 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of O-I Glass in the 4th quarter worth $89,000. 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.