O-I Glass (NYSE:OI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of O-I Glass (NYSE:OI) from a buy rating to a strong-buy rating in a research report report published on Saturday.

A number of other research analysts also recently issued reports on OI. Weiss Ratings reissued a “sell (d-)” rating on shares of O-I Glass in a report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $19.00 target price on shares of O-I Glass in a report on Thursday, January 15th. Zacks Research cut shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Truist Financial raised their price target on shares of O-I Glass from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company raised shares of O-I Glass from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $15.00 to $18.00 in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.88.

O-I Glass Stock Performance

NYSE OI opened at $16.46 on Friday. The firm has a market capitalization of $2.53 billion, a P/E ratio of -17.51, a PEG ratio of 0.20 and a beta of 0.78. The stock has a 50-day simple moving average of $15.19 and a two-hundred day simple moving average of $13.66. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.84 and a current ratio of 1.33. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.70.

Institutional Trading of O-I Glass

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in O-I Glass by 33.9% in the 1st quarter. Royal Bank of Canada now owns 112,800 shares of the industrial products company’s stock valued at $1,294,000 after buying an additional 28,548 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of O-I Glass by 154.0% during the first quarter. AQR Capital Management LLC now owns 177,117 shares of the industrial products company’s stock valued at $1,993,000 after acquiring an additional 107,388 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of O-I Glass by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,151 shares of the industrial products company’s stock valued at $1,057,000 after acquiring an additional 4,055 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of O-I Glass in the first quarter worth approximately $119,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of O-I Glass by 43.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,279 shares of the industrial products company’s stock worth $6,036,000 after acquiring an additional 160,649 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

About O-I Glass

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.