O-I Glass, Inc. (NYSE:OI) Receives $15.38 Consensus Price Target from Analysts

O-I Glass, Inc. (NYSE:OI) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.38.

OI has been the subject of several research reports. Citigroup reduced their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday. Bank of America upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cooper Creek Partners Management LLC lifted its holdings in shares of O-I Glass by 18.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock worth $120,132,000 after buying an additional 1,705,216 shares in the last quarter. FMR LLC lifted its holdings in shares of O-I Glass by 6.9% in the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock worth $108,990,000 after buying an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of O-I Glass by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock worth $80,749,000 after buying an additional 617,460 shares in the last quarter. Highland Peak Capital LLC lifted its holdings in shares of O-I Glass by 87.5% in the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock worth $42,029,000 after buying an additional 1,809,237 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after buying an additional 37,238 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Price Performance

OI opened at $12.06 on Tuesday. The firm has a market cap of $1.86 billion, a P/E ratio of -16.98, a PEG ratio of 0.24 and a beta of 1.20. The firm has a 50-day moving average of $11.24 and a 200 day moving average of $11.88. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. On average, research analysts expect that O-I Glass will post 1.33 EPS for the current year.

About O-I Glass

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.