O-I Glass, Inc. (NYSE:OI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $18.89.

A number of equities analysts have commented on the stock. Royal Bank of Canada reduced 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 note on Thursday, May 2nd. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Friday, June 14th. Bank of America reissued a “neutral” rating and issued a $16.00 price target (down from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Barclays reduced their price target on shares of O-I Glass from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Finally, Wells Fargo & Company reduced their price target on shares of O-I Glass from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd.

O-I Glass Stock Down 0.9 %

Shares of NYSE OI opened at $10.45 on Thursday. The company’s 50-day simple moving average is $12.22 and its 200-day simple moving average is $14.57. O-I Glass has a 52-week low of $10.43 and a 52-week high of $23.57. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -6.57, a price-to-earnings-growth ratio of 1.03 and a beta of 1.24. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd raised its stake in shares of O-I Glass by 114.7% during the third quarter. Qube Research & Technologies Ltd now owns 337,625 shares of the industrial products company’s stock valued at $5,648,000 after purchasing an additional 180,374 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in shares of O-I Glass by 378.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 63,116 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 49,916 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of O-I Glass during the third quarter valued at approximately $494,000. Seven Eight Capital LP raised its stake in shares of O-I Glass by 769.9% during the third quarter. Seven Eight Capital LP now owns 83,312 shares of the industrial products company’s stock valued at $1,394,000 after purchasing an additional 73,735 shares during the period. Finally, Diversified Trust Co raised its stake in shares of O-I Glass by 247.0% during the third quarter. Diversified Trust Co now owns 37,906 shares of the industrial products company’s stock valued at $634,000 after purchasing an additional 26,983 shares during the period. Hedge funds and other 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.