O-I Glass (NYSE:OI) Receives New Coverage from Analysts at Truist Securities

Truist Securities began coverage on shares of O-I Glass (NYSE:OI) in a research note issued to investors on Tuesday, Price Targets.com reports. The brokerage issued a buy rating and a $20.00 price objective on the industrial products company’s stock.

Several other research analysts also recently issued reports on the company. TheStreet raised O-I Glass from a c rating to a b rating in a report on Tuesday, August 3rd. Truist began coverage on O-I Glass in a report on Monday. They set a positive rating and a $20.00 price objective on the stock. Longbow Research began coverage on O-I Glass in a report on Thursday, May 20th. They set a neutral rating on the stock. Seaport Res Ptn raised O-I Glass from a neutral rating to a buy rating in a report on Thursday, August 5th. Finally, Seaport Global Securities raised O-I Glass from a neutral rating to a buy rating and set a $20.00 price target on the stock in a research note on Thursday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $16.13.

Shares of OI opened at $14.76 on Tuesday. The company has a market capitalization of $2.32 billion, a P/E ratio of 7.42, a PEG ratio of 0.42 and a beta of 1.75. The company has a debt-to-equity ratio of 9.91, a current ratio of 1.42 and a quick ratio of 0.95. O-I Glass has a one year low of $9.10 and a one year high of $19.46. The business’s 50 day simple moving average is $15.04 and its 200-day simple moving average is $15.55.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, August 3rd. The industrial products company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.47 by $0.07. O-I Glass had a return on equity of 76.08% and a net margin of 5.10%. During the same period in the prior year, the company posted $0.01 EPS. On average, sell-side analysts anticipate that O-I Glass will post 1.72 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Profund Advisors LLC increased its position in shares of O-I Glass by 3.3% in the 2nd quarter. Profund Advisors LLC now owns 21,533 shares of the industrial products company’s stock valued at $352,000 after buying an additional 679 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of O-I Glass by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 88,001 shares of the industrial products company’s stock valued at $1,437,000 after buying an additional 687 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of O-I Glass by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,386 shares of the industrial products company’s stock valued at $256,000 after buying an additional 710 shares in the last quarter. HighTower Advisors LLC increased its position in shares of O-I Glass by 3.4% in the 1st quarter. HighTower Advisors LLC now owns 28,103 shares of the industrial products company’s stock valued at $411,000 after buying an additional 924 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of O-I Glass by 7.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,036 shares of the industrial products company’s stock valued at $192,000 after buying an additional 946 shares in the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

O-I Glass Company Profile

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

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

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