O-I Glass (NYSE:OI) Raised to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of O-I Glass (NYSE:OI) from an underweight rating to an equal weight rating in a research note published on Wednesday morning, The Fly reports.

A number of other equities analysts have also recently issued reports on OI. Loop Capital started coverage on shares of O-I Glass in a research note on Tuesday, October 5th. They issued a hold rating and a $16.00 price target on the stock. KeyCorp reduced their price target on shares of O-I Glass from $13.00 to $12.00 and set an underweight rating for the company in a research report on Wednesday, October 27th. Royal Bank of Canada cut their price objective on O-I Glass from $16.00 to $15.00 and set a sector perform rating for the company in a research note on Thursday, October 28th. TheStreet downgraded O-I Glass from a b- rating to a c rating in a research note on Monday, October 25th. Finally, Citigroup dropped their price target on O-I Glass from $14.00 to $13.00 in a research note on Tuesday, January 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $16.00.

Shares of OI opened at $14.28 on Wednesday. The company has a market capitalization of $2.24 billion, a P/E ratio of 31.04, a P/E/G ratio of 0.41 and a beta of 1.73. O-I Glass has a 1-year low of $10.64 and a 1-year high of $19.46. The firm’s 50 day simple moving average is $12.02 and its 200 day simple moving average is $13.81. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.41 and a quick ratio of 0.94.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Sunday, October 24th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. O-I Glass had a net margin of 1.23% and a return on equity of 69.39%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. On average, equities analysts anticipate that O-I Glass will post 1.8 earnings per share for the current year.

Several large investors have recently modified their holdings of OI. Profund Advisors LLC lifted its stake in shares of O-I Glass by 3.3% in the 2nd quarter. Profund Advisors LLC now owns 21,533 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 679 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of O-I Glass by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 88,001 shares of the industrial products company’s stock valued at $1,437,000 after buying an additional 687 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of O-I Glass by 24.3% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,200 shares of the industrial products company’s stock valued at $60,000 after buying an additional 822 shares during the period. Simon Quick Advisors LLC increased its holdings in O-I Glass by 28.6% during the 3rd quarter. Simon Quick Advisors LLC now owns 4,500 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 1,000 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in O-I Glass during the 1st quarter worth about $25,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

About O-I Glass

O-I Glass, Inc engages in manufacturing of glass products. It offers products to the food and beverage sectors. The firm operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded in 1929 and is headquartered in Perrysburg, OH.

Recommended Story: What are retained earnings?

The Fly logo

Analyst Recommendations for O-I Glass (NYSE:OI)

Receive News & Ratings for O-I Glass Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for O-I Glass and related companies with MarketBeat.com's FREE daily email newsletter.