Barclays Upgrades O-I Glass (NYSE:OI) to Equal Weight


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O-I Glass (NYSE:OI) was upgraded by investment analysts at Barclays from an “underweight” rating to an “equal weight” rating in a report released on Monday, Analyst Price Targets reports. The brokerage currently has a $17.00 price objective on the industrial products company’s stock, up from their prior price objective of $11.00. Barclays‘s target price would indicate a potential downside of 1.96% from the company’s current price.

Several other brokerages also recently commented on OI. Deutsche Bank Aktiengesellschaft downgraded O-I Glass from a “buy” rating to a “hold” rating and lowered their price target for the company from $15.00 to $14.00 in a report on Wednesday, January 20th. Citigroup increased their price target on O-I Glass from $12.50 to $14.00 in a report on Thursday, February 11th. Finally, KeyCorp raised their price objective on shares of O-I Glass from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Monday, April 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. O-I Glass currently has an average rating of “Hold” and a consensus price target of $13.80.

Shares of OI stock opened at $17.34 on Monday. O-I Glass has a 12 month low of $5.76 and a 12 month high of $17.34. The company has a quick ratio of 0.94, a current ratio of 1.40 and a debt-to-equity ratio of 19.48. The business’s 50 day moving average is $14.45 and its two-hundred day moving average is $12.67. The company has a market cap of $2.73 billion, a PE ratio of 8.94 and a beta of 1.78.

O-I Glass (NYSE:OI) last announced its quarterly earnings results on Wednesday, April 28th. The industrial products company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.28 by $0.07. O-I Glass had a return on equity of 88.28% and a net margin of 4.97%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that O-I Glass will post 1.17 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in OI. Marshall Wace North America L.P. acquired a new position in shares of O-I Glass in the 1st quarter valued at $25,000. Morgan Stanley raised its stake in shares of O-I Glass by 17.7% in the 3rd quarter. Morgan Stanley now owns 265,094 shares of the industrial products company’s stock valued at $2,806,000 after buying an additional 39,901 shares in the last quarter. Sei Investments Co. raised its stake in shares of O-I Glass by 10.3% in the 3rd quarter. Sei Investments Co. now owns 140,159 shares of the industrial products company’s stock valued at $1,479,000 after buying an additional 13,100 shares in the last quarter. Strs Ohio raised its stake in shares of O-I Glass by 169.4% in the 3rd quarter. Strs Ohio now owns 79,200 shares of the industrial products company’s stock valued at $838,000 after buying an additional 49,800 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of O-I Glass in the 4th quarter valued at $315,000. Institutional investors own 89.85% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals.

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Analyst Recommendations for O-I Glass (NYSE:OI)

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