O-I Glass, Inc. (NYSE:OI) Stock Has Consensus Target Price of $9.69

O-I Glass, Inc. (NYSE:OI) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $9.69.

OI has been the subject of several research analyst reports. Zacks Research raised shares of O-I Glass from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Royal Bank Of Canada downgraded shares of O-I Glass from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $10.00 to $8.00 in a research report on Thursday, August 13th. UBS Group lowered shares of O-I Glass from a “buy” rating to a “neutral” rating and cut their price target for the company from $11.00 to $6.00 in a research note on Monday. Truist Financial decreased their price target on shares of O-I Glass from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, BNP Paribas Exane downgraded shares of O-I Glass from an “outperform” rating to a “neutral” rating and set a $8.50 price objective for the company. in a research note on Thursday, July 30th.

Hedge Funds Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in O-I Glass by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 8,076 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 3,246 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of O-I Glass by 69.4% in the third quarter. Farther Finance Advisors LLC now owns 7,336 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 3,006 shares during the period. Wealth Enhancement Trust Services Inc. increased its holdings in shares of O-I Glass by 57.3% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 5,825 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 2,121 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of O-I Glass in the second quarter worth about $139,000. Finally, IPG Investment Advisors LLC raised its stake in shares of O-I Glass by 4.7% in the second quarter. IPG Investment Advisors LLC now owns 548,063 shares of the industrial products company’s stock worth $5,278,000 after purchasing an additional 24,705 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Down 1.5%

Shares of NYSE:OI opened at $6.08 on Wednesday. The business’s 50-day moving average is $6.59 and its 200 day moving average is $8.43. O-I Glass has a 1 year low of $5.30 and a 1 year high of $16.91. The firm has a market capitalization of $933.48 million, a P/E ratio of -0.81, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 8.89, a current ratio of 1.26 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). O-I Glass had a negative net margin of 18.13% and a positive return on equity of 10.40%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts predict that O-I Glass will post 0.30 earnings per share for the current fiscal year.

About O-I Glass

O-I Glass, Inc (NYSE: OI) is a global manufacturer of glass packaging. The company produces glass bottles and jars for food, beverages, beer, wine, spirits, pharmaceuticals and other consumer products, serving brand owners and manufacturers that use glass containers for packaging.

The company operates glass-container manufacturing facilities and provides related design, engineering and packaging services. Its products are used across a range of markets and geographies, including North and South America, Europe and other international markets.