O-I Glass, Inc. (NYSE:OI) Receives $22.67 Average PT from Brokerages

O-I Glass, Inc. (NYSE:OI) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $21.75.

A number of research analysts have commented on the company. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $17.00 to $18.00 in a report on Wednesday, January 3rd. Truist Financial reiterated a “buy” rating and issued a $20.00 target price on shares of O-I Glass in a research note on Monday, March 25th. Bank of America restated a “neutral” rating and set a $16.00 price target (down previously from $21.00) on shares of O-I Glass in a research note on Friday, April 19th. Finally, UBS Group began coverage on shares of O-I Glass in a research note on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price objective for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its stake in shares of O-I Glass by 259.7% in the third quarter. Covestor Ltd now owns 1,669 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,205 shares during the period. TFO Wealth Partners LLC grew its holdings in O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock valued at $36,000 after buying an additional 2,188 shares during the last quarter. Signaturefd LLC bought a new position in O-I Glass in the 3rd quarter worth approximately $62,000. International Assets Investment Management LLC increased its position in O-I Glass by 1,538.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,095 shares of the industrial products company’s stock worth $67,000 after buying an additional 3,845 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of O-I Glass by 37.3% during the fourth quarter. Quadrant Capital Group LLC now owns 5,168 shares of the industrial products company’s stock worth $85,000 after buying an additional 1,404 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Price Performance

NYSE OI opened at $15.07 on Friday. O-I Glass has a 1 year low of $13.56 and a 1 year high of $23.57. The stock’s 50-day moving average price is $16.02 and its two-hundred day moving average price is $15.61. The company has a market cap of $2.35 billion, a PE ratio of -20.09, a PEG ratio of 1.04 and a beta of 1.35. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a negative net margin of 1.45% and a positive return on equity of 24.90%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, analysts predict that O-I Glass will post 2.33 EPS for the current 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.