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

Shares of O-I Glass, Inc. (NYSE:OI) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.25.

OI has been the subject of a number of research reports. Barclays dropped their price objective on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. Citigroup lowered their target price on shares of O-I Glass from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, July 8th. UBS Group lowered their target price on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Robert W. Baird lowered 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 report on Thursday, August 1st.

O-I Glass Price Performance

O-I Glass stock opened at $12.99 on Tuesday. The company’s 50 day simple moving average is $12.11 and its 200-day simple moving average is $13.10. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -8.17, a price-to-earnings-growth ratio of 1.87 and a beta of 1.17. O-I Glass has a 1 year low of $10.08 and a 1 year high of $18.08. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.75 and a current ratio of 1.26.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative net margin of 4.32% and a positive return on equity of 15.64%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. As a group, equities research analysts expect that O-I Glass will post 1.13 earnings per share for the current year.

Insider Activity at O-I Glass

In other O-I Glass news, Director John Humphrey purchased 15,000 shares of O-I Glass stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $11.30 per share, for a total transaction of $169,500.00. Following the transaction, the director now directly owns 84,227 shares in the company, valued at $951,765.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.49% of the stock is owned by insiders.

Hedge Funds Weigh In On O-I Glass

Large investors have recently made changes to their positions in the stock. Thompson Investment Management Inc. grew its stake in O-I Glass by 84.2% in the 1st quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company’s stock valued at $6,535,000 after acquiring an additional 180,093 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in O-I Glass in the 1st quarter valued at about $1,021,000. Duality Advisers LP acquired a new stake in O-I Glass in the 1st quarter valued at about $1,554,000. Norges Bank acquired a new stake in O-I Glass in the 4th quarter valued at about $27,562,000. Finally, Goldman Sachs Group Inc. grew its stake in O-I Glass by 8.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company’s stock valued at $24,158,000 after acquiring an additional 115,728 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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.