Brokerages Set O-I Glass, Inc. (NYSE:OI) PT at $17.89

O-I Glass, Inc. (NYSE:OI) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $17.22.

OI has been the subject of several analyst reports. Robert W. Baird decreased their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada dropped 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 report on Thursday, May 2nd. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday. Barclays dropped their target price on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th.

Hedge Funds Weigh In On O-I Glass

Several large investors have recently made changes to their positions in the business. Range Financial Group LLC bought a new position in shares of O-I Glass during the 2nd quarter valued at about $165,000. Markel Group Inc. boosted its holdings in shares of O-I Glass by 25.0% in the second quarter. Markel Group Inc. now owns 674,100 shares of the industrial products company’s stock worth $7,503,000 after buying an additional 135,000 shares during the period. Rhumbline Advisers boosted its holdings in shares of O-I Glass by 5.4% in the second quarter. Rhumbline Advisers now owns 498,438 shares of the industrial products company’s stock worth $5,548,000 after buying an additional 25,353 shares during the period. nVerses Capital LLC acquired a new position in shares of O-I Glass in the second quarter worth about $90,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of O-I Glass in the second quarter worth about $1,404,000. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

O-I Glass stock opened at $12.26 on Monday. The stock’s 50-day moving average is $11.55 and its 200-day moving average is $13.98. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -7.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.24. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.56. O-I Glass has a 12 month low of $10.08 and a 12 month high of $20.86.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Equities analysts anticipate that O-I Glass will post 1.6 earnings per share 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.