O-I Glass (NYSE:OI) Receives “Buy” Rating from Truist Financial

Truist Financial restated their buy rating on shares of O-I Glass (NYSE:OI) in a report released on Thursday morning, Benzinga reports. Truist Financial currently has a $17.00 price objective on the industrial products company’s stock, down from their prior price objective of $20.00.

A number of other equities analysts also recently issued reports on the company. TheStreet downgraded O-I Glass from a b- rating to a c- rating in a research report on Tuesday, February 6th. Wells Fargo & Company cut their price objective on shares of O-I Glass from $22.00 to $19.00 and set an overweight rating on the stock in a report on Thursday. UBS Group assumed coverage on shares of O-I Glass in a research note on Tuesday, January 16th. They issued a buy rating and a $26.00 target price for the company. Robert W. Baird cut their price target on shares of O-I Glass from $28.00 to $22.00 and set an outperform rating on the stock in a research note on Thursday. Finally, Citigroup cut O-I Glass from a buy rating to a neutral rating and lifted their price target for the stock from $17.00 to $18.00 in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, O-I Glass presently has an average rating of Hold and a consensus target price of $19.89.

O-I Glass Stock Performance

Shares of OI traded up $0.36 during trading hours on Thursday, reaching $13.53. 523,582 shares of the company traded hands, compared to its average volume of 1,744,784. The stock’s fifty day moving average price is $15.71 and its 200 day moving average price is $15.55. The company has a quick ratio of 0.56, a current ratio of 1.02 and a debt-to-equity ratio of 2.26. O-I Glass has a 12-month low of $12.40 and a 12-month high of $23.57.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.69 billion. O-I Glass had a positive return on equity of 18.25% and a negative net margin of 3.45%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, sell-side analysts expect that O-I Glass will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OI. Texas Permanent School Fund Corp lifted its stake in O-I Glass by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 135,154 shares of the industrial products company’s stock worth $2,242,000 after acquiring an additional 1,465 shares during the last quarter. Markel Group Inc. increased its holdings in O-I Glass by 14.9% in the first quarter. Markel Group Inc. now owns 539,100 shares of the industrial products company’s stock valued at $8,944,000 after buying an additional 70,000 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in O-I Glass in the first quarter valued at $38,000. Hartree Partners LP purchased a new stake in O-I Glass during the 1st quarter worth about $4,911,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of O-I Glass during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

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.