Brokerages Set O-I Glass, Inc. (NYSE:OI) PT at $16.67

Shares of O-I Glass, Inc. (NYSE:OI) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.6667.

A number of analysts recently commented on OI shares. Wall Street Zen upgraded shares of O-I Glass from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research report on Wednesday, October 8th. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $17.00 in a report on Monday, November 17th. Zacks Research cut O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Finally, Wells Fargo & Company upped their target price on O-I Glass from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th.

O-I Glass Stock Performance

Shares of OI opened at $15.15 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.84 and a debt-to-equity ratio of 3.36. The firm has a market cap of $2.33 billion, a PE ratio of -16.11, a P/E/G ratio of 0.23 and a beta of 0.78. O-I Glass has a 12 month low of $9.23 and a 12 month high of $16.04. The stock has a fifty day moving average price of $13.00 and a 200-day moving average price of $13.42.

O-I Glass (NYSE:OI) last announced its earnings results on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. O-I Glass had a positive return on equity of 16.02% and a negative net margin of 2.26%.The firm had revenue of $1.59 billion for the quarter. Equities research analysts predict that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Institutional Trading of O-I Glass

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in O-I Glass by 11.0% during the first quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company’s stock worth $3,741,000 after buying an additional 32,339 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of O-I Glass during the 1st quarter worth about $658,000. Charles Schwab Investment Management Inc. grew its position in shares of O-I Glass by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,992,887 shares of the industrial products company’s stock valued at $22,858,000 after acquiring an additional 144,030 shares during the period. Nuveen LLC acquired a new stake in shares of O-I Glass during the 1st quarter valued at about $10,738,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in shares of O-I Glass in the 2nd quarter valued at about $1,329,000. 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.