O-I Glass, Inc. (NYSE:OI) Receives Average Rating of “Hold” from Analysts

Shares of O-I Glass, Inc. (NYSE:OI) have been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $15.6667.

A number of brokerages have commented on OI. Citigroup cut their price objective on shares of O-I Glass from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Truist Financial cut their price objective on shares of O-I Glass from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Wall Street Zen downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research downgraded shares of O-I Glass from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, Robert W. Baird set a $20.00 price target on shares of O-I Glass in a report on Thursday, February 12th.

O-I Glass Stock Up 0.1%

Shares of O-I Glass stock opened at $10.91 on Wednesday. The company has a market cap of $1.67 billion, a P/E ratio of -12.98, a PEG ratio of 0.91 and a beta of 0.84. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.77 and a current ratio of 1.25. O-I Glass has a one year low of $9.84 and a one year high of $16.91. The firm has a fifty day moving average of $12.06 and a two-hundred day moving average of $13.27.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 10th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.52 billion. O-I Glass had a negative net margin of 2.01% and a positive return on equity of 18.07%. O-I Glass’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, analysts forecast that O-I Glass will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On O-I Glass

A number of large investors have recently made changes to their positions in OI. Farther Finance Advisors LLC increased its holdings in shares of O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 830 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of O-I Glass in the 2nd quarter valued at about $29,000. Quarry LP purchased a new position in shares of O-I Glass in the 4th quarter valued at about $32,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of O-I Glass by 36,533.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,192 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of O-I Glass by 64.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 918 shares in 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.