O-I Glass, Inc. (NYSE:OI) Receives $15.38 Consensus PT from Brokerages

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

A number of analysts have recently commented on the company. Citigroup dropped their price objective 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. Wells Fargo & Company cut their price target on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday, March 17th. Finally, Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, January 6th.

Institutional Trading of O-I Glass

A number of hedge funds have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in O-I Glass in the fourth quarter worth about $45,000. Sterling Capital Management LLC lifted its holdings in O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company’s stock worth $53,000 after buying an additional 4,343 shares during the last quarter. KBC Group NV grew its position in shares of O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 2,309 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of O-I Glass in the 4th quarter valued at approximately $86,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of O-I Glass during the 4th quarter valued at approximately $89,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Price Performance

O-I Glass stock opened at $10.63 on Friday. The firm’s 50-day moving average is $11.42 and its two-hundred day moving average is $11.70. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The stock has a market capitalization of $1.64 billion, a P/E ratio of -14.97, a P/E/G ratio of 0.24 and a beta of 0.98. O-I Glass has a 12-month low of $9.23 and a 12-month high of $15.91.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. Equities analysts predict that O-I Glass will post 1.33 earnings per share for the current year.

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.