O-I Glass (NYSE:OI) Stock Price Expected to Rise, Bank of America Analyst Says

O-I Glass (NYSE:OI) had its price target hoisted by Bank of America from $14.00 to $15.00 in a research report report published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the company. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Citigroup boosted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company decreased their price objective on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday. Finally, Barclays dropped their target price on O-I Glass from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Stock Down 2.0 %

O-I Glass stock opened at $10.47 on Monday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -3.79 and a beta of 1.21. The firm has a fifty day moving average price of $11.71 and a two-hundred day moving average price of $11.97. O-I Glass has a fifty-two week low of $9.85 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a negative net margin of 6.34% and a positive return on equity of 9.16%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, analysts forecast that O-I Glass will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On O-I Glass

A number of institutional investors have recently made changes to their positions in OI. Segall Bryant & Hamill LLC acquired a new position in shares of O-I Glass in the third quarter worth approximately $32,350,000. Highland Peak Capital LLC acquired a new stake in O-I Glass during the 3rd quarter worth about $27,132,000. Levin Capital Strategies L.P. grew its stake in O-I Glass by 25.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,511,413 shares of the industrial products company’s stock worth $39,082,000 after purchasing an additional 703,308 shares during the period. Dimensional Fund Advisors LP increased its holdings in O-I Glass by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after purchasing an additional 573,300 shares in the last quarter. Finally, Private Management Group Inc. lifted its stake in O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after buying an additional 520,452 shares during the period. Institutional investors own 97.24% of the company’s stock.

About O-I Glass

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.