O-I Glass, Inc. (NYSE:OI) Receives $16.67 Consensus Price Target from Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $16.6667.

Several equities analysts recently weighed in on OI shares. Bank of America upgraded shares of 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. Truist Financial dropped their price objective on O-I Glass from $21.00 to $17.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wall Street Zen raised O-I Glass from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of O-I Glass in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of O-I Glass from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th.

O-I Glass Stock Performance

NYSE OI opened at $15.43 on Thursday. O-I Glass has a 52-week low of $9.23 and a 52-week high of $16.04. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.33 and a quick ratio of 0.84. The company’s fifty day moving average is $12.82 and its two-hundred day moving average is $13.38. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -16.41, a P/E/G ratio of 0.24 and a beta of 0.78.

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

Institutional Trading of O-I Glass

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of O-I Glass during the second quarter valued at approximately $29,000. State of Wyoming purchased a new stake in O-I Glass in the 2nd quarter worth $35,000. Smartleaf Asset Management LLC raised its stake in O-I Glass by 64.1% during the second 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. Caitong International Asset Management Co. Ltd purchased a new position in shares of O-I Glass in the 1st quarter worth $30,000. Finally, GAMMA Investing LLC increased its holdings in shares of O-I Glass by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,403 shares of the industrial products company’s stock worth $50,000 after buying an additional 820 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

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.