O-I Glass (NYSE:OI) Rating Increased to Strong-Buy at BNP Paribas

O-I Glass (NYSE:OI) was upgraded by stock analysts at BNP Paribas to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the company. Truist Financial restated a “buy” rating and issued a $16.00 target price (up from $13.00) on shares of O-I Glass in a research note on Thursday, May 1st. Citigroup boosted their target price on O-I Glass from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Barclays boosted their target price on O-I Glass from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. BNP Paribas Exane initiated coverage on O-I Glass in a research note on Wednesday. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.11.

O-I Glass Stock Up 3.5%

OI stock opened at $15.21 on Wednesday. The stock has a market cap of $2.35 billion, a P/E ratio of -12.07, a P/E/G ratio of 0.30 and a beta of 0.96. The stock’s fifty day simple moving average is $13.12 and its two-hundred day simple moving average is $11.82. The company has a current ratio of 1.24, a quick ratio of 0.73 and a debt-to-equity ratio of 3.83. O-I Glass has a 1-year low of $9.23 and a 1-year high of $15.52.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.22. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. Analysts expect that O-I Glass will post 1.33 EPS for the current 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 stock. Rhumbline Advisers increased its stake in O-I Glass by 0.8% in the 4th quarter. Rhumbline Advisers now owns 485,732 shares of the industrial products company’s stock worth $5,265,000 after acquiring an additional 3,980 shares during the last quarter. Principal Financial Group Inc. increased its stake in O-I Glass by 2.2% in the 4th quarter. Principal Financial Group Inc. now owns 750,006 shares of the industrial products company’s stock worth $8,130,000 after acquiring an additional 15,964 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in O-I Glass by 3.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 89,224 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 3,207 shares during the last quarter. Jones Financial Companies Lllp increased its stake in O-I Glass by 277.1% in the 4th quarter. Jones Financial Companies Lllp now owns 14,982 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 11,009 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in O-I Glass by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock worth $20,042,000 after acquiring an additional 25,719 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

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.