O-I Glass, Inc. (NYSE:OI) Receives $16.25 Average Target Price from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.25.

Several equities research analysts have recently commented on OI shares. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Thursday, October 17th. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays dropped their price target on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Citigroup increased their price target on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd.

Hedge Funds Weigh In On O-I Glass

Institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in O-I Glass during the 3rd quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in shares of O-I Glass by 371.0% during the third quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,892 shares during the period. Newbridge Financial Services Group Inc. lifted its position in O-I Glass by 1,337.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 2,675 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in O-I Glass by 28.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,136 shares during the period. Finally, KBC Group NV increased its holdings in O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

O-I Glass stock opened at $10.84 on Thursday. The stock has a 50-day simple moving average of $11.84 and a 200 day simple moving average of $11.98. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -3.93 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. O-I Glass’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. On average, research analysts anticipate that O-I Glass will post 0.76 earnings per share for the current fiscal 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.